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Latest Tax Alerts

Check out the latest tax alert section of our website, full of links and articles for professional and personal tax news. Read More

Tax reform proceeds to possible summer enactment

Lawmakers continue to debate comprehensive tax reform, aiming for ... Read More

Lack of contemporaneous written acknowledgement nixes donation

In a case that provides a lesson to anyone donating property to charity ...
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FAQ...What are miscellaneous itemized deductions?

Miscellaneous itemized deductions are certain nonbusiness expenses that ...
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April 2017 tax compliance calendar

As an individual or business ...
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How do I? Maximize start-up deductions for a new business


Steve Grgas, Partner Starting a new business venture can prove exciting, but rather costly. There are certain tax advantages that can help alleviate some of the financial burden associated with entrepreneurship.

A taxpayer may start a business by forming an entirely new business or acquiring an existing business. One of the most important decisions a business owner should make is to choose a type of business entity. If the business is entirely new, the taxpayer will be able to choose the type of entity from inception; however, if the taxpayer purchases an entity that differs from the entity of choice, the taxpayer much convert the purchased entity to the entity of choice. Be aware that each type of entity-be it ... Read More

IRS Issues 2017 Inflation-Adjusted Vehicle Depreciation Dollar Limits



Wayne Naegele, Senior Partner The IRS has released the inflation-adjusted limitations on depreciation deductions for business-use passenger automobiles, light trucks, and vans first placed in service during calendar year 2017. All limitations are inflation-adjusted based upon October 2016 CPI amounts, with rounding conventions that account for almost all 2016 limits remaining the same for 2017 (only the third-year limitation for light trucks and vans rose, from $3,350 to $3,450 in 2017).

Comment. The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) has allowed for 50 percent bonus depreciation where applicable ... Read More


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