What is the value of my business? That’s the question every business owner wonders from time to time. But the correct answer varies depending on the purpose of the appraisal. Different rules and “standards of value” may apply in different circumstances. Fair Market Value In the United States, the most widely recognized and accepted standard…
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How Much Can Businesses Deduct for Vehicles Placed in Service in 2019?
Does your business need to add one or more vehicles? If so, the purchases may qualify for tax breaks under current tax law. Here are the details. First-Year Depreciation Breaks The Tax Cuts and Jobs Act (TCJA) allows unlimited 100% first-year bonus depreciation for qualifying new and used assets (including eligible vehicles) that are acquired…
A Brief History of Estate Taxes
Federal estate taxes have been a source of funding for the federal government almost since the U.S. was founded. For Richer or Poorer Regardless of your net worth, it’s critical to understand your choices when developing an estate strategy. In 1797, Congress instituted a system of federal stamps that were required on all wills offered…