Now that last year’s tax returns have
been filed and all of your taxes
have been paid (unless you’re waiting
until the last minute), you have once
again vowed to do all you can to minimize
your tax bill next year. One way
to do this is to plan your major purchases
of tools and equipment to take
full advantage of the current tax laws.
This kind of planning requires talking
about depreciation, something that
usually sends me screaming from the
room, but bear with me for a moment.
In the complicated maze of tax regulation,
there are some tax situations
where you deduct tools, equipment,
and/or materials over time by depreciating
them. There are other situations
where