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Now or Later? A brief look at Expensing vs. Capitalizing

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Now or Later? A brief look at Expensing vs. Capitalizing

We get asked fairly often, “Can I deduct this if I spend the money this year?” And of course, the answer is always, “It depends!” If you haven’t noticed or haven’t had reason to notice, the US tax code is riddled with carve-outs, exceptions, and exceptions to the exceptions.

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Retirement Savings for Small Business

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Retirement Savings for Small Business

From time to time, I hear small business owners and even sometimes employees of small businesses lament that they do not have a big company pension or retirement plan, and therefore no way to save for retirement. However, there are many tax-friendly ways for both the self-employed and their team members to save for retirement.