Tag's: Tax Code

Depreciation – 2018 Tax Law Changes

[Transcription]Today, I'm talking about...What is depreciation? Depreciation is used for assets. When you buy an asset, and what I mean by "asset" is when you make large purchases that can be used over multiple years, that is considered an asset. When you do this, the default rule is you have to take the expense over several years.Now, there's some certain exclusions in the tax code that allows
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Small Business Tip Audit Proofing Your Business Financials Part 2

Today I'm talking about...During the course of your business, you often buy things. You might go to Office Depot, Staples, Walmart, wherever you buy your office supplies from. Some items you buy are really inexpensive. For example, a pen, pencils, they cost $5, $10, $15, $20. And sometimes you buy more expensive items like computers, equipment’s you need for your business, and things of that nature. So, when you buy more expensive
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