As most business owners are aware, the depreciation rules for 2011 created significant benefits for businesses large and small. However, 2012 will not provide that same advantages and as a result now is the time to consider the changes in effect for the current calendar year.
Simply put these changes should drive proactive tax planning starting right now, especially with small businesses that are prone to wait until the last minute and do what we call “crisis tax planning”. While 2011 was very forgiving (tax wise) because of the flexibility the depreciation rules provided, 2012 will not provide the same wiggle room.
For a brief summary of depreciation changes see “2012 depreciation changes” which summarizes three significant depreciation changes that have taken effect at the following hyperlink.
