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Depreciable Personal Property

A cost segregation study may cut taxes and boost cash flow

Cash Flow, Cost Segregation Study, Depreciation, Depreciation Deduction (Section 179), Federal Taxes, Small Business, Small Business Tips, Tax Cuts and Job Acts (TCJA) /

Is your business depreciating over 30 years the entire cost of constructing the building that houses your enterprise? If so, you should consider a cost segregation study. It may allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. Depreciation basics. Business buildings generally have a 39-year depreciation period […]

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The tax mechanics involved in the sale of trade or business property

Business Income Tax, Business owned Property, Capital Gains, Federal Income Tax, Ordinary Income Tax, Tax Planning /

There are many rules that can potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property you want to sell is land or depreciable property used in your business, and has been held by you for more than a year. (There are different rules for property held primarily

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