
Section 179 deduction vs. bonus depreciation: How they work, how they differ
The Section 179 deduction and bonus depreciation both let businesses write off expenses quickly. Here’s what you need to know.
Tia Uzzell is a certified public accountant (CPA), enrolled agent (EA) and small business finance expert with over 10 years of experience helping individuals and business owners navigate complex tax regulations and financial planning. She is the founder of Tia Uzzell & Associates, a firm specializing in tax preparation, bookkeeping and financial strategy. She has saved clients hundreds of thousands in tax liabilities.
Tia began her career in corporate finance but transitioned into entrepreneurship to better serve small businesses and self-employed professionals. Tia has worked with CPA firms and wealth management firms, gaining extensive experience in tax compliance, business advisory and financial strategy for high-net-worth individuals and entrepreneurs. Her passion lies in educating clients on optimizing their financial health while maintaining compliance with IRS regulations.
When she’s not working with clients on tax and financial strategies, Tia enjoys spending time with her daughter and sharing her passion for creativity by teaching rug-making workshops at The Tuft Spot, her DIY tufting studio.
A strong financial strategy is the bridge between where you are and where you want to be.
— Tia Uzzell, CPA, EA
The Section 179 deduction and bonus depreciation both let businesses write off expenses quickly. Here’s what you need to know.
If your income hits a specified level, you’re required to file a tax return. But it may make sense to file no matter what your income.
Avoid the pitfalls of the process to help protect your windfall.
If your business is an LLC, you’ll need to pick the tax-filing status that suits your business best.
An LLC can reduce the legal liability of its members, among other benefits, but there are some disadvantages to consider, too.
A tax levy is the next step after a tax lien, and it means your wages, financial accounts and other property may be seized by the IRS.
Tax credits can help you save big on your taxes. Here’s how they work and how to qualify.
Sold an investment? The IRS wants a Schedule D.