In the current environment, the best tax strategy is usually the one that improves both tax results and working capital. Business owners who act early can better manage inflation pressure, interest expense, and changing deduction rules while avoiding last-minute surprises. A year-end review with a...

Business owners may think that, if they repair a piece of tangible property, they’ll qualify for an immediate tax deduction. But the IRS may define that “repair” as an “improvement,” and require the costs to be depreciated over a much longer period. This article explores...