Providing personalized tax, accounting and consulting services to Evergreen, Conifer and the greater metro area since 1992

Cash Basis Business Taxpayers

Maximize deductions and credits for 2016 by making payments of expenses giving rise to the deduction or credit by December 31.

  • Business expenses purchased with a credit card are deductible in the year purchased, regardless of when the credit card bill is paid.
  • Delay sending late in the year invoices so that payment is not received until 2017.
  • Make sure that any new equipment purchased in 2016 is placed in service before the end of the year to qualify for a Sec. 179 or depreciation deduction.

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