Every year about this time, I inevitably get asked the following or similar question: “Should I buy that truck this year to save taxes?” The answer to this question is almost always: “It depends.” The idea behind this tax planning strategy is fairly simple – buy business equipment or other depreciable property before the end of the year, rather than next year, and get up to 100 percent expensing to offset business income for this year. The trick is making sure the equipment is something the business really needs and not just a way to reduce taxes. It is never a good idea to let the tax code make business decisions but, if asset purchases are planned in the next six to 12 months, it is worth looking to see if accelerating these purchases makes sense.