Category image Top-line: In 2014, the annual expense limit for Section 179 is now $25,000, down from $500,000 in 2013. You will need to plan accordingly. Background Section 179 of the tax code allows businesses to immediately expense qualified capital…
Month: August 2014
Non-taxable Income for Those in the Armed Services
One of the benefits available to the men and women of our Armed Services and, in many cases, staff supporting them is the ability to exclude items from taxable income. Here is a list of the most common items that…
In the Military? Special Tax Benefits May Apply
There are special tax benefits to members of the U.S. Armed Forces. If you or someone you know is in the military, prior to filing a tax return it makes sense to review your situation. Outlined here are some of…
Do Not Wait to Save
Start Planning for Next Year’s Tax Returns Now Saving on your tax returns requires careful planning. You need to start early and you need to stay on top of everything that is happening. If you want to make sure that…
College Tax Savings: 2014 Edition Every little break helps
With the start of school just around the corner, it is hard to ignore the high cost of funding a college education. Thankfully, there is some help within the tax code. Outlined here are three of the more popular ways…
Cash Flow
Cash Flow Anybody who is in to business knows that cash flows are the main ingredient for a business’ survival. Opinion is divided amongst business experts regarding what’s more important for the business to thrive in the industry; the ability…