Hello, finance enthusiasts! Last week brought about significant changes to Section 179 of the US Tax Code, often referred to as the “Hummer tax break” in our previous discussions. Just to jog your memory, this provision allows businesses to purchase equipment and write off the entire cost, albeit with certain limits in place. Well, the Economic Stimulus Act… Read More »
As tax season starts to ramp up, it’s an opportune time to delve into the topic of depreciation. It’s a term that’s often misunderstood, or not understood at all, somewhat like when your auto mechanic launches into a technical explanation of why your car is making that strange noise, and you find yourself nodding in feigned understanding while… Read More »
Today’s topic has to do with S Corporations and taxes. This is more of a ‘corner me at the party’ type topic, but since I work in financing and leasing (hence the clever “Lease Guy” moniker), I have to have a broad base of knowledge in regards to taxes and the like (well, I like to think so,… Read More »
Today is January 17th, meaning there are less than three months remaining until tax day (forgive me, but us finance guys treat tax day like a major holiday. Now that I think about it, maybe this is why we don’t ever get invited anywhere). Anyway, being that I am a finance guy, every tax season, I get asked… Read More »
With the holiday season in full bloom, and the New Year right around the corner, most businesses have fallen into that ‘Friday afternoon’ stage of the year. It’s time to reflect, retool, restock, and revel (although you may want to do your reveling after work!) I want to add one more word to that, re-check. As in re-check… Read More »