Year-End Tax Tips from Intuit

It’s that time of year again. Sure, there are some holidays going on, but it’s also year-end for your business. This week, the Intuit Small Business blog offers some tax tips for year-end that have the potential to save you money. Maybe you can make the holidays a little better by pinching some pennies on taxes. Here are some of the ideas Intuit gives:

  • Buy some new equipment for the business. You can expense $500,000 this year for business equipment. It drops to $125,000 in 2012.
  • Hire a new employee. You can get a tax credit for hiring certain types of employees, including high-risk youth and unemployed vets.
  • Write off anything that’s depreciable. Right now you can still write off 100% of the first-year costs of anything bought after September 8, 2010. That will change next year.
  • Go solar. If you switch to solar, you can get a tax credit of up to 30 percent of your property cost.

Check out the blog for more in-depth tips.

Bernard Roesch About Bernard Roesch

Bernard Roesch is co-founder and Managing Partner of Mission Consulting. Bernard’s background in the early years of his career was spent in the manufacturing sector, making his QuickBooks perspective a unique one – he understands the intricacies of a complex environment and then applies his strategic skills accordingly.