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Archive for November 25th, 2014

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wnaegele

FAQ: What is the new de minimis safe harbor for tax expensing?

Businesses generally want to write off costs more quickly, to reduce their taxable income and their tax burden. One mechanism for accomplishing this is to deduct the costs of depreciable property rather than capitalizing them. Under Code Sec. 179, taxpayers can expense a prescribed amount of their costs for tangible depreciable property, even if the […]

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wnaegele

“Lame-duck” Congress returns with busy post-election tax agenda

Lawmakers are scheduled to return to work after the November elections for the so-called “lame-duck” Congress. Despite what is expected to be a short session, there is likely to be movement on important tax bills. Tax extenders Every two years, like clockwork, the same scenario seems to play-out in Congress. Many popular but temporary tax […]

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apresti

Cash-flow 101 – Signs of Problems and Tips for Improvement

If income is the purpose of business, cash-flow is the lifeblood. As a business owner, you know how important cash-flow is to your business. Without cash, you can’t pay your bills, your employees or purchase the goods that you will sell. And if you can’t pay your bills, it doesn’t matter how much money you […]

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wnaegele

Mayor de Blasio Signs Intro 295-A Into Law, Expanding the Right to Pre-Tax Transit Benefits

NEW YORK—Mayor Bill de Blasio recently enacted Intro 295-A, which requires New York City companies with 20 or more full-time employees to offer pre-tax transit benefits. The bill encourages employers to take advantage of an existing federal tax benefit, which already allows businesses to offer its workers $130 a month as pre-tax income for transportation. The […]

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