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Deduction, depreciation, real estate

If you’re thinking about acquiring real estate for your business, there are several built-in ways to get tax deductions from depreciation. Here are a few strategies to consider to get the most out your deductions.

charitable deduction, estate tax, executor, remote possibility

Often, executors of estates help manage the charitable donations that the deceased intended to distribute from the estate. Such charitable donations usually result in an income tax deduction for the estate at tax time.

basis, beneficiary, Estate Planning, estate tax, executor

Whether you are the executor of an estate or anticipate inheriting assets from an estate, a new law has recently passed that makes reporting requirements much more thorough and extensive. Since the regulations are new and affect so many, it is important to understand how it impacts you.

Pension Plan, SEP

If you’ve been weighing the options of setting up a pension plan for your employees, options abound. However, especially if you are a small business, the difficulty may rest in choosing which plan is the best for you. The administration and rules of the different plans can be daunting.

Affordable Care Act

As we discussed last October in our blog about changes in the Affordable Care Act, many penalties for non-compliance for "applicable large employers" are set to rise. The good news is that certain deadlines for submitting paperwork have been extended.

Tax incentives, tax breaks

Congress recently passed legislation through the "Protecting Americans from Tax Hikes Act of 2015" to make many temporary tax incentives permanent.