Whether your business is the law, or a business with accounting or asset protection needs, our business has been “Solving clients’ problems" since 1977.

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Last-Minute Tax Deductions & Section 179 Caveat

  • 15 December 2015
  • Author: Cari Holbrook
  • Number of views: 1007
  • 0 Comments
Last-Minute Tax Deductions & Section 179 Caveat
‘Tis the season for last-minute tax deductions. Technology purchases, staff appreciation, charitable giving, deferred income and accelerated expensing are five major ways to reduce your current year tax bill, making this the most wonderful time of the year indeed! However, one caveat remains: the Section 179 deduction, which allows a deduction on all or part of the cost of certain qualifying property in the year it is placed in service.

How Cash Payments Over $10,000 Get Noticed

  • 8 December 2015
  • Author: Cari Holbrook
  • Number of views: 1065
  • 0 Comments
How Cash Payments Over $10,000 Get Noticed

In business, not all cash is considered equal in the eyes of the IRS. Business owners must report any cash payments of more than $10,000 by completing a Form 8300. Why? These types of payments to businesses are a red flag for money laundering and criminal activity. It’s serious business for the IRS, since the activity can be an indication of terrorist financing and drug dealing. For the rest of us, it’s better to be safe than sorry—and simply report it. Here’s what you should know:

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