Tax Season Reminders

1. Recent law increased Section 179 deduction
   Did you purchase and begin using new or second-hand business equipment during 2014?

IRS service will decline by ACA and budget cuts

IRS Commissioner John Koskinen has informed taxpayers that the Agency's level of service to taxpayers is likely to decline,

New ABLE accounts are now available

The Tax Increase Prevention Act of 2014 that was signed last December mainly affected the year 2014 as it extended for that year only some 50 tax breaks

Oops. I Wish I Knew That

Here are five tax topics that seem innocent but can cause problems if not handled correctly.

Every new business needs a record system

Many small start-up businesses are off and running before any record system has been set up. There is money deposited into the new business checking account, some from invested funds and some from sales. Money has been paid out for equipment and supplies, some by check and some by cash out of pocket or from sales receipts.