Forgotten tax deductions for small business owners
from The Bellingham Herald
It's that dreaded time of year again. One thing you can't avoid is taxes. But with some sound advice and a few good tips, the weeks before April 15, can be less painful. One deduction that business owners sometimes miss is a bonus depreciation deduction available in the year that new assets are purchased. Businesses are allowed to claim a 50 percent bonus depreciation deduction, in addition to the depreciation deduction you would normally take for the asset.
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