Year-end tax planning – Depreciation breaks take center spotlight
Abstract: As the year winds down, companies should start projecting their tax liability and determining what specific steps they can take to minimize it while maximizing cash flow. Taking the center spotlight in 2016 are depreciation-related tax breaks. This article explores the ins and outs of Sec. 179 expensing, bonus depreciation and the extended 15-year straight-line cost recovery period for qualified building improvements. A sidebar looks at the Work Opportunity credit.