In addition, the total spending allowance to claim the deduction has been increased to $3.13 million. Once that cap is ...

Section 179 of the U.S. tax code offers businesses a powerful opportunity to reduce their tax liability by allowing them to deduct the full cost of qualifying assets in the year they are placed ...

The DOE has launched a web portal to enable faster tax deduction calculations for energy efficiency upgrades that drive 25% ...

Wealthy taxpayers could get a break if Congress and Trump agree to raise the limit on federal deductions based on your local ...

As we enter the beginning of 2025, bonus depreciation continues to leverage down as more portions of the Tax Cuts and Jobs Act expire.

The year you use a tool, you may expense its entire cost if you are entitled to Section 179. Is buying tools for work tax deductible? It's okay to deduct the cost of tools used at work if you must ...

By the calendar, it’s January 2025, but if your business is on a fiscal year, you may still be in 2024 — at least for tax purposes. So, you may still be able to trim your taxes.