Despite increased tax rates and other changes implemented in 2013, there is still time in this year for companies to implement tax-saving strategies such as deductions, depreciation provisions or deferrals. Year-end tax reviews can maximize potential savings and may even encourage future tax planning.
Weaver’s Sean Muller, partner-in-charge, Houston tax and strategic business services, spoke with Smart Business about the opportunities available to save in 2013:
- How businesses can utilize enhanced Section 179 deduction limits in 2013
- How bonus depreciation differs from the Section 179 deduction
- What savings are available through like-kind exchanges
- Who can take domestic production activity deductions (Section 199)
- Additional year-end tax saving strategies
Read more on these topics and the ways you can still save in 2013 in the Smart Business article, What companies can do in the final months of 2013 to save on their tax bills.