Photo Galleries
Some Converse copycats cost big bucks A few bargain brands got swept up in Chuck Taylor's net, but others cost a pretty penny. More
Urban infrastructure gets a second life Railroad beds become parks, power plants become aquariums and slaughterhouses are now art centers as an industrial past turns people-centric. More
Boomtown moms From working mothers raising their kids in RVs to stay-at-home moms who spend their days organizing events for the Oil Wives club, meet the moms of North Dakota's oil boom. More
Special Offer
4 of 5
BACK NEXT
Timing Tricks
What deductions you're able to take is not the only consideration. It also matters when you take them. With taxes, as with so much else in business, timing is key.

Scott Kelley (pictured at right) is a co-founder of Service Center Metals, which uses expensive equipment. Writing off such major purchases usually takes years and must be done in accordance with depreciation schedules laid out by the IRS. With the help of a canny accountant, the company has found ways to accelerate various deductions, allowing it to get more money more quickly. All told, accelerated deduction yields hundreds of thousands of dollars to Service Center Metals each year.

"From the very beginning, we've tried to align our growth strategy with tax strategy," says Kelley. "Get money back quickly, use it to fund expansion and buy better equipment, make more money."

NEXT: Transportation Savings

Last updated February 25 2008: 11:17 AM ET
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.