When managing business expenses, understanding how to depreciate a vehicle used for business purposes can significantly impact your tax benefits. This blog post will guide you through the key concepts and rules surrounding auto depreciation, including the Section 179 deduction, special depreciation allowance, and Modified Accelerated Cost Recovery System (MACRS) depreciation. Section 179 Deduction Special Depreciation Allowance MACRS […] Read more “Understanding Auto Depreciation: A Guide for Business Owners”
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As an entrepreneur in charge of your own business and its management, it is imperative that you are compliant with the rules and regulations set forth by the Internal Revenue Service. Of course, staying compliant with all of these regulations can be a formidable task, especially when it comes to tracking receipts and bills that […] Read more “4 Apps to Help Business Owners Keep Their Receipts and Bills Compliant with the IRS”