Maximizing Tax Savings: Coordinating Sec. 179 Deductions with Bonus Depreciation
![](https://aco.cpa/wp-content/uploads/2024/04/SECTION-179-1-1600x900.jpg)
At Accavallo & Company, LLC we understand the importance of optimizing current year depreciation write-offs for businesses with newly acquired assets. To achieve this, businesses can leverage two significant federal tax incentives: the first-year Section 179 depreciation deductions and first-year bonus depreciation deductions. When utilized correctly, these deductions can potentially allow businesses to write off […]
Unlocking Tax Benefits: How Nonprofits Can Benefit from the Inflation Reduction Act
![](https://aco.cpa/wp-content/uploads/2024/03/non-profit-1600x900.jpg)
When the Inflation Reduction Act (IRA) was enacted in late 2022, many tax-exempt organizations may have overlooked its potential benefits assuming it was irrelevant to them. Contrary to this belief, the IRA offers provisions that can be advantageous for tax-exempt entities. Let’s delve into the details to explore how your nonprofit can leverage these tax […]