5 Tax Tips for Small Businesses
1️⃣ Maximize Your Deductions (Section 179 + Bonus Depreciation)
• Section 179 allows businesses to deduct the full cost of qualifying equipment and software in the year purchased, rather than depreciating over time.
• Bonus depreciation is being phased down but still available in 2025 for a portion of qualifying assets.
• Ideal for: laptops, machinery, office equipment, vehicles, and certain software.
2️⃣ Track Every Eligible Business Expense
• Commonly missed deductions include:
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