In December of 2015, Congress passed the Protecting Americans from Tax Hikes Act (PATH Act). Under this new law, many tax extenders were made permanent. Tax extenders are popular but traditionally temporary tax breaks. Congress has had a pattern the…
The IRS recently issued Notice 2015-82 which raised the capitalization of business assets threshold from $500 to $2,500. This notice is effective on 1/1/16 but the IRS has stated that it will not be questioning 2015 tax returns on this…
Welcome to my blog. This will be the first of many periodic posts that aim to pass along pertinent information related to tax and accounting issues that seem applicable to a large number of individuals and businesses. I will do…