So take action on these tax strategies if they put more money in your pocket.1. Buy a heavy SUV to haul your tools around and deduct up to $25,000 in depreciation expense. Read More
2. Buy other business equipment including software, computers, office furniture and you can write-off as much as $250,000 in depreciation expense.
3. Take full advantage of 50% first year bonus depreciation for qualifying new equipment placed in service by December 31, 2009.
4. Accelerate expenses by paying vendors and others before end of the year and delay receiving income payments until Jan 1 of 2010. Read More
5. Create a Net Operating Loss by taking the above steps and then use take the 2009 Net Operating Loss, carry it back for up to five years, and recover taxes paid in those years.
Read more detail about the 5 year end strategies for saving on 2009 taxes by CLICKING HERE
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