Tax Return

Tax News You Can Use

No major changes for the year, but keep these thoughts in mind as we near the end of 2015. Congress is expected to revive key breaks including bonus depreciation to allow writing off 50% of cost of qualifying assets put in service this year. The higher ceiling on expensing assets is likely to be reinstated. [...]

January 2015 Newsletter

Time For Taxes!!!! Our 2014 Tax Organizers and Engagement Letters were recently sent to our individual clients.  Please review the Organizer and enter relevant information where applicable.  In addition to the information you provide in the Organizer, please provide any of the following documents that may apply to your tax situation: Original Form(s) W-2; Schedule(s) [...]

February 3, 2015|Management Tips|

‘Tis the Season for Charitable Contributions

As 2014 comes to a close, here are a few tips to make sure you don’t miss out on the tax deduction for your charitable contributions: The IRS requires written acknowledgement from organizations for gifts worth $250 or more. Keep bank records or written statements from organizations, regardless of the amount donated. Make sure that [...]

2013 Year End Tax News

Year-end Section 179 Deduction Trap: The current $500,000 Section 179 deduction limit applies to tax years beginning in 2013. Under current law, the limit will be a much lower $25,000 for tax years beginning in 2014. This presents a tax trap for fiscal year pass-through entities (e.g., partnerships and S corporations) with calendar tax year owners. Assets acquired and placed in [...]

November 30, 2013|Tax Advice|
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