Tag Archives: 2021 section 179

The Case for Used Equipment in 2021

My previous post was about the Section 179 deadline, and how supply chain issues and delivery delays could derail some companies who wait too long to make their 2021 section 179 equipment purchases.   And almost right away, my brain kicked into “and getting used equipment instead alleviates that” (since Section 179 eligible equipment can be new or used.)… 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 »

It’s Your Money, And You Should Keep More of It

As I write this, the biggest issue on the minds of businesspeople everywhere is “taxes”.  Of course, this argument has been going on for centuries (the USA was founded partly due to unhappiness with taxes), but there is a very valid point here. “Enough with the taxes” say small and mid-sized companies, and they’re right. Businesspeople, especially those… Read More »