We specialize in bookkeeping, payroll, income tax return preparation, and retirement planning, and serve a nationwide clientele consisting of individuals and businesses of all types and sizes (LLC, partnerships, C & S Corporations), as well as trusts and estates. As financial problem solvers, we provide practical advice and proactive solutions with personalized service. We are affordable, experienced, and friendly, and we tirelessly study and research the ever-changing world of tax law and regulation so that we can help every client realize the greatest possible savings and return on investments. Our office is conveniently located in Dover, Delaware. Please contact us today to find out more about how we can make YOUR life less taxing!Tax
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๐๐ฎ๐ป ๐ ๐ด๐ฒ๐ ๐ฎ ๐๐ฎ๐
๐๐ฟ๐ถ๐๐ฒ-๐ผ๐ณ๐ณ ๐ถ๐ณ ๐ ๐ฏ๐๐ ๐๐๐ฒ๐ฑ ๐ฒ๐พ๐๐ถ๐ฝ๐บ๐ฒ๐ป๐ ๐ณ๐ผ๐ฟ ๐บ๐ ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐?
Yes, both Section 179 and the permanently restored 100% Bonus Depreciation rules apply to new and used equipment. If the asset is new to your business, you can deduct up to 100% of the purchase price in 2026.
For example, a three-year-old commercial oven bought from a closed restaurant is considered new to your business. It qualifies for a 100% immediate write-off this year.
But you can't claim the write-off if the equipment is acquired through:
โข Gifts or inheritance
โข Purchases from an immediate family member
โข Shifts between business entities or LLCs you already own
So yes, buying used equipment can still come with a valuable tax benefit. You just need to make sure the purchase qualifies.
When you add equipment to your business, do you prefer buying brand new or finding good used deals?
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๐๐ถ๐ฑ ๐ฎ๐ป๐๐ผ๐ป๐ฒ ๐ฒ๐น๐๐ฒ ๐ด๐ฒ๐ ๐ฎ ๐๐ฒ๐ฟ๐ ๐๐ฟ๐ผ๐ป๐ด ๐ถ๐ฑ๐ฒ๐ฎ ๐ฎ๐ฏ๐ผ๐๐ ๐บ๐ผ๐ป๐ฒ๐ ๐ณ๐ฟ๐ผ๐บ ๐ฝ๐น๐ฎ๐๐ถ๐ป๐ด ๐ ๐ผ๐ป๐ผ๐ฝ๐ผ๐น๐ ๐ฎ๐ ๐ฎ ๐ธ๐ถ๐ฑ?
Wouldn't we all love to receive a guaranteed $200 check just for walking around the block every morning, or patch up a sudden cash flow crunch by handing someone a tiny deed to our Baltic Avenue? Turns out the actual rules of that game don't translate very well to running a business.
Sustainable growth takes a lot more strategy than just rolling the dice. Financial control is about building clean bookkeeping systems, tracking your actual margins, and managing your cash flow with real data.
If you are ready to stop guessing and want a clear, data-driven strategy to manage your business cash flow, reach out to us today. Letโs get your systems dialed in.
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๐ช๐ต๐ฒ๐ป ๐ฑ๐ผ ๐ ๐ต๐ฎ๐๐ฒ ๐๐ผ ๐๐๐ฎ๐ฟ๐ ๐๐ฎ๐ธ๐ถ๐ป๐ด ๐บ๐ผ๐ป๐ฒ๐ ๐ผ๐๐ ๐ผ๐ณ ๐บ๐ ๐๐ฅ๐?
Under current SECURE 2.0 laws, you must start taking Required Minimum Distributions (RMDs) at either age 73 (if born between 1951 and 1959) or 75 (if born in 1960 or later).
The IRS lets you delay your first distribution until April 1st of the following year.
But doing this forces your first two RMDs into the same calendar year, creating an artificial income spike that can push you into a higher tax bracket.
Unless you have a specific reason to delay, your next move would be to take that first distribution by December 31st of your initial eligibility year.
Don't let a simple timing error give your hard-earned savings right back to the government at the finish line.
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First State CPAs & Associates |
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18 S. State St, Dover, DE 19901 |
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| (302) 736-6657 | |
| Business Hours | |
| January 1st January 31st | |
| MondayโFriday: | 8amโ5pm |
| Saturday & Sunday: | closed |
| February 1st April 15th | |
| MondayโThursday: | 8amโ6pm |
| Friday: | 8amโ5pm |
| Saturday: | By appointment |
| Sunday: | closed |
| April 16th December 31st | |
| MondayโThursday: | 8amโ5pm |
| Friday, Saturday & Sunday: | closed |