Tax Strategies For Major Business Expenses
In a simpler tax world that we can only imagine, the way small businesses write off major expenses would be, well, a lot simpler. You'd deduct the costs of all your major purchases in the same year you made them. The tax laws passed by Congress in 2003 go a long way toward creating that world for most small businesses. There are four points to remember when trying to figure out how major purchases will affect your business's tax bottom line.