11th Hour Tax-Saving Tips, Part 5

The last of our five ways to save on taxes: Analyze your depreciation expense.
  • ---Shares

Order a cost segregation study to increase your business's annual depreciation expense. Consider this option if your business owns a building used for business purposes. (Typically your accountant can assist you with this.) If the cost of non-structural items, such as landscaping, site fencing, a parking lot, security equipment, etc. can be identified, these costs can be depreciated separately from the building itself, using a depreciation method with fewer years than the "39-year life" depreciation method applicable to the building. This can increase your business's annual depreciation expense deductions.

Next Article:
The Importance of Portfolio Diversificat...
OK

This website uses cookies to allow us to see how our website and related online services are being used. By continuing to use this website, you consent to our cookie collection. More information about how we collect cookies is found here.