December 10, 2020 – DougFreemanCPA.com

Should you add a technology executive to your staff?

Information Technology (IT), Small Business, Technology / Douglas Freeman

The COVID-19 pandemic and resulting economic impact have hurt many companies, especially small businesses. However, for others, the jarring challenges this year have created opportunities and accelerated changes that were probably going to occur all along. One particular area of speedy transformation is technology. It’s never been more important for businesses to wield their internal […]

Should you add a technology executive to your staff? Read More »

Small businesses: Cash in on depreciation tax savers

Business Deductions, Business Equipment, Business Income Tax, Depreciation Deduction (Section 179), Small Business, Tax Cuts and Job Acts (TCJA), Tax Deduction, Tax Savings / Douglas Freeman

As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you may benefit from the Section 179 depreciation tax deduction for business property. The election provides a tax windfall to businesses, enabling them to claim immediate

Small businesses: Cash in on depreciation tax savers Read More »

Maximize your 401(k) plan to save for retirement

401 K, Contributions, Individual Income Tax, Internal Revenue Service (IRS), Investment, Retirement, Roth IRA / Douglas Freeman

Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a smart way to build a substantial sum of money. If you’re not already contributing the maximum allowed, consider increasing your contribution rate. Because of tax-deferred

Maximize your 401(k) plan to save for retirement Read More »