It’s not too late to dramatically reduce your 2022 income taxes. Don’t overlook the following bulletproof strategies to slash this year’s taxes.

1. Need a new business car? You can claim up to $19,200 in depreciation deductions if you purchase a typical passenger (“luxury”) automobile. Even better, you can write-off up to 100% of the cost of a new or used pickup or Sport Utility Vehicle (SUV) with a Gross Vehicular Weight Rating (GVWR) of 6,000 pounds or more using Section 179 expensing ($27,000) and bonus depreciation, assuming 100% business use.

2. Looking to go green by purchasing an Electric Vehicle (EV)? Purchase by December 31 to avoid the vehicle cost and income limits that begin...