Category Archives: Section 179 Deduction

One of the few tax deductions that really work for small business

It’s a Magic Time of Year for Section 179 Financing

We’ve officially hit summer in 2021, and that can only mean one thing – Section 179 financing!  Ok, that’s probably not what sprang to your mind, but that’s fine. You can have whatever you thought of (vacation, swimming pools, baseball, whatever) and still take advantage of Section 179. There’s a reason why right now is a great time… Read More »

Pay Attention to the Section 179 Deadline in 2021

In 2021, you need to pay close attention to the Section 179 deadline, and make sure you aren’t left out.  Is it odd that I’m saying this in May? Not this year. And that’s due to supply chains across the board being affected by pandemic shutdowns and post-reopening labor issues. And it is catching many purchasers (both consumers… Read More »

The Two Different Accounting Methods – Book Accounting and Tax Accounting

Here’s something that’s a surprise to many non-businesspeople: There are actually two different accounting methods, and most successful businesses will compile reports and similar using both.  The two accounting methods are:  Book Accounting (which could simply be called “accounting”) utilizes Generally Accepted Accounting Principles (GAAP), whose rules are set by the Financial Accounting Standards Board (FASB).  Tax Accounting… Read More »