Partnership

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. [...]

Health Care & Small Business

The Affordable Care Act means big changes for your small business. We at Franty & Company want to make sure you’re prepared for the new health care requirements. Self-Employed: Eligible to purchase health insurance coverage through the Individual Health Insurance Marketplace Individual Shared Responsibility (ISR) provision of the ACA requires each individual in a household [...]

‘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 [...]

In Defense of Capitalism

Do you like Twitter?  I really enjoy it and find it to be an amazing place to get information.  If you’re not Tweeting, it’s something that you should spend some time exploring. I read a “Tweet” a few days ago that really got me thinking.  Most of our clients are in business and I wanted [...]

Buy, Lease, Sell

We get a lot of questions about vehicle deductions and there’s one thing that we really try to communicate to our clients when they are getting a new business vehicle.  And that one thing is: SELL YOUR OLD VEHICLE! Your business vehicle gives rise to gains and losses when sold to third parties.  It works [...]

December 20, 2011|Businesses, Tax Advice|
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