Q. I am going to buy a
truck or SUV for my business. The Cost will be around
$35,000.00. How much can I deduct on my tax return this
year?
A. You can
deduct the entire cost under section 179 rules as long as it is
used 100% for business and the GVW (Gross Vehicle Weight) is
more that 6,000 pounds. Also there is a phase-out limit if your
total business asset purchases exceed $ 400,000.00 for the
year.Another option would be to deduct a first year
depreciation amount equal to 50% of the business portion and
depreciate the remainder over a 5 year period. The 50%
additional first year depreciation only applies to new
qualifying property.
Q. How often do I really
need to back up my computer?
A. We
recommend that you back up your computer DAILY. It is also good
to take the backup off-site each day. Also remember to
frequently rotate the media that you are backing up on. ex:
rotate the memory sticks, external hard drives or CD's
you use.