The Newsroom
Financial and Accounting Updates and Information from Maggart
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From the Monthly Newsletter...
Benefits of Filing Your Tax Return Early
They say the early bird gets the worm. Early federal income tax filers may get a couple worms, which is a good thing in this metaphor. Although it may seem like a quaint tradition to wait until the deadline (usually April 15, but actually April 18 in 2022), there’s more than one valid reason for …
Businesses Can Still Deduct 100% of Restaurant Meals
Business owners, 2022 is well underway. So, don’t forget that a provision tucked inside 2020’s Consolidated Appropriations Act suspended the 50% deduction limit for certain business meals for calendar years 2021 and 2022. That means your business can deduct 100% of the cost of business-related meals provided by a restaurant. A Closer Look As you …
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Could Your Company Reap Tax Benefits From a Heavy SUV Purchase?
Many businesses need to invest in heavy sport utility vehicles (SUVs) to transport equipment and provide timely services. Fortunately, they may be able to claim valuable tax deductions for the purchases. If you’re thinking about buying one (or if your bought one in 2021), be sure to brush up on the tax rules. Bonus Depreciation …
Could Your Company Reap Tax Benefits From a Heavy SUV Purchase? Read More »
