News Feeds

National News

Display # 

Tax Tips Small Business

  • Electing to Expense the Cost of Your Business Assets

    Section 179 deduction limits increase

    The IRS allows taxpayers the option of either depreciating some assets over a specified number of years or deducting all or a portion of the cost in one year. The expense election, commonly referred to as the Section 179 deduction, is made in the year the asset is placed in service. The benefit is a large deduction in the current year that is not reduced even if the asset is placed in service late in the tax year.

    Read more ...

Small Business Quick Tip

  • Employer Provided Education

    Employer-provided education assistance benefits of $5,250 provided under a written plan are excludable from wages. The education doesn't need to be job-related to qualify.
Saturday, 25th May 2019
EASEAL_L

What is an Enrolled Agent and why should I care?

Click Here to find out

 

NATP Member

Follow us on

TwitterFacebook

Tax Tips Personal

  • Let the Sun Shine

    Certain solar-powered improvements are eligible for a tax credit

    You are allowed a credit for 30 percent of certain expenditures that increase the energy efficiency of your personal residence. Costs eligible for the credit include qualified solar electric property expenditures, qualified solar water heating property expenditures, and qualified fuel cell property expenditures. The credit is available for residential energy-efficient property placed in service in 2006, 2007, and 2008. There is no requirement that property be new to qualify. Read more ...

Personal Quick Tip

  • Teacher Expenses

    If you are a teacher who spent your own money for classroom supplies, you can take a deduction for up to $250 of those costs.