Section 179 – Tax Relief From Depreciation Rules

Written by Richard A. Chapo


“Depreciation.” For business owners, this word isrepparttar one most likely to inspire headaches and fits of cussing. The expanded provisions of Section 179 are justrepparttar 142629 medicine you need to curerepparttar 142630 depreciation blues.

Depreciation

Traditionally, if your business property had a life of more than one year,repparttar 142631 cost had to be deducted over several tax years. The number of years depended onrepparttar 142632 characteristics ofrepparttar 142633 property, which made depreciationrepparttar 142634 flag-bearing example ofrepparttar 142635 complexities ofrepparttar 142636 tax code. Shockingly,repparttar 142637 federal government has provided substantial relief to business owners.

Section 179 ofrepparttar 142638 Internal Revenue Code has been dramatically expanded torepparttar 142639 benefit of businesses, particularly small ones. This code allows businesses to completely deductrepparttar 142640 cost of tangible property inrepparttar 142641 year of purchase. The tax relief comes fromrepparttar 142642 expansion ofrepparttar 142643 total amount that can be deducted in one year.

Huge Deduction Increase

CHOOSING THE RIGHT FINANCIAL PLANNER

Written by Richmond Acheampong


Choosing a financial planner is a very important decision. Who will you trust to handle your life savings and plan your financial future? The fact that someone claims to be a financial planner does not qualify him or her to handle your money. They must haverepparttar proper certification, experience and knowledge.

The Four Cs of choosing a financial planner

1. Credentials ·What certifications, college /university degrees and experience does he/she have? ·How many clients or how much money does he/she handle? ·Make surerepparttar 142619 planner is registered withrepparttar 142620 Investment Dealers Association in your area or Certified by a Government body

2. Compensation ·How are you compensated? Flat fees, salary or commission? (Beware of those who earn big commissions for placing you in high risk funds) ·Are there any hidden underwriting fees with my investment fund? ·Will you explain allrepparttar 142621 cost involved with each investment? ·What isrepparttar 142622 cost of liquidating or canceling my account with your firm? (Good to know, if you decide to switch funds or investment companies)

3. Characteristics ·What is your investment philosophy? ·Do you focus on domestic markets, foreign market or both? (Answer should be both) ·What is your specialty? Your strongest area? (Global portfolio management, no load mutual funds, stocks, bonds etc) ·How do you view risk and how does your philosophy fit my risk tolerance?

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