USTaxAid Services

Generally speaking, a lease means that you don’t own something. It means that you are renting something over a longer period of time. But the tax treatment for leases can be very different depending on the type of lease you have. There are regular leases and capital leases. Capital leases are still leases, but they ...

Small business owners who buy or lease (in some cases) equipment can make an election to take an immediate expense deduction for it under Section 179. Otherwise, the property will have to be depreciated over a period of years. That’s the simple description, but there is actually a whole lot more to the Section 179 ...

Most of the time when I review past returns for new or prospective clients, I find mistakes that we can fix.  There are a few that we can’t.  I’ve dealt with all kinds of outrage when my new clients discover they have overpaid taxes because some strategies didn’t work or because the return wasn’t properly ...