2019 – 11/25 – 2 valuable year-end tax-saving tools for your business

Milkust Trier CPA - Blog

2019 – 11/25 – 2 valuable year-end tax-saving tools for your business


Under current law, there are two valuable depreciation-related tools that may help your business reduce its 2019 tax liability. To benefit from the Sec. 179 and bonus depreciation deductions, you must buy eligible machinery, equipment, furniture or other assets and place them into service by the end of the tax year. In other words, you can claim a full deduction for 2019 (up to certain limits) even if you acquire assets and place them in service during the last days of the year. It’s important to note that these deductions may also be used for business vehicles. But, depending on the type of vehicle, additional limits may apply. Please contact us to learn more.