Tag: Bonus Depreciation

Ask Jason, 3/16/12

Q: Can I deduct mileage to a PO box? A: It depends. If you are a home-based business and a portion of your home is used regularly and EXCLUSIVELY for business, then you can deduct any business mileage driven from your home, including to your PO box. If your home is not used regularly and […]

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Current Section 179 and Bonus Depreciation Limits Expire December 31

Joe Kristan at the Tax Update Blog reminds small business owners that current Section 179 and bonus depreciation limits expire on December 31: The last tax bill of 2011, the 2-month payroll tax cut extension, has no provision to extend the 2011 tax treatment for fixed assets. As things now stand, 100-percent bonus depreciation and the $500,000 Section 179 […]

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