Buyers of new heavy SUVs put in use in 2012 can get a substantial write-off, thanks to 50% bonus depreciation. Assume your business buys a new $60,000 SUV with loaded gross weight over 6,000 pounds and places it in service before year-end. First, the firm can expense $25,000. Half of the remaining $35,000 cost...$17,500... Qualifies for 50% bonus depreciation this year. The company can also deduct 20% of the $17,500 balance...$3,500... as a regular depreciation. Assuming that the vehicle is used 100% of the time for business, the total write-off in the first year is $46,000.

Employer-provided cell phone are tax free fringes, the Service says. As long as companies give the phones to workers primarily for business reasons, employees are not taxed on either the business or personal use of the phones. Therefore, workers do not need to keep a log of their business and personal calls.

Ditto, where employers reimburse for the business use of personal phones. The payments aren't taxed to employees if the use of the phones is reasonably related to the firm's business needs and the amounts paid are not unusual or excessive.

These same rules apply to iPads and other tablets, according to IRS officials.