Is your business expecting a very profitable year, knowing you will have a painful income tax debt to pay next April? Do you have plans to purchase some equipment within the next six months? If so, ...

BOSTON (CBS) - Normally if you purchase capital equipment for your business, you don't get to expense the total cost of the equipment the year you buy it. You depreciate the equipment over its useful ...

The government has given business owners the chance to receive free luxury sport utility vehicles at the expense of taxpayers. Because of a tax loophole, any SUV weighing more than 6,000 pounds is ...

Buying equipment for your lawn business is different from buying supplies like fertilizer and fuel. Whereas supplies have a short-term life and are treated as expenses, the equipment you buy should ...

The IRS has issued guidance on deducting expenses under Section 179(a) and on deducting depreciation under Section 168(g). These rules, in Revenue Procedure 2019-08 and as amended by the Tax Cut and ...

I am 58yrs of age and receive $8660 for disability from my former employer, and receive a 1099R which I enter that amount on line 7 of Form 1040. I have rental income profit of $4069 and enter on line ...

Wylie Wong is a freelance journalist who specializes in business, technology and sports. He is a regular contributor to the CDW family of technology magazines. For business owner Ric Lee, taking ...