News Articles

30

September

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Maximizing depreciation deductions in an uncertain tax environment

Maximizing depreciation deductions in an uncertain tax environment For assets with a useful life of more than one year, businesses generally must depreciate the cost over a period of years. Special breaks are available in some circumstances, but uncertainty currently surrounds them: Section 179 expensing. This allows you to deduct, rather than depreciate, the cost … Continued

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25

September

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Watch out for the Wash Sale Rule

Watch out for the Wash Sale Rule If you’ve cashed in some big gains this year, consider looking for unrealized losses in your portfolio and selling those investments before year end to offset your gains. This can reduce your 2014 tax liability. But if you want to minimize the impact on your asset allocation, keep … Continued

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08

August

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Installment sales offer both pluses and minuses

Installment Sales Offer Pluses and Minuses A taxable sale of a business might be structured as an installment sale if the buyer lacks sufficient cash or pays a contingent amount based on the business’s performance. Installment sales also may make sense if the seller wishes to spread the gain over a number of years — … Continued

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09

July

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Employee vs Independent Contractor

Employee vs Independent Contractor An employer enjoys several advantages when it classifies a worker as an independent contractor rather than as an employee. For example, it isn’t required to pay payroll taxes, withhold taxes, pay benefits or comply with most wage and hour laws. However, there’s a potential downside: If the IRS determines that you’ve … Continued

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17

June

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Consider the Sec. 83(b) election to save tax on restricted stock awards

Consider the Sec. 83(b) election to save tax on restricted stock awards Restricted stock is stock that’s granted subject to a substantial risk of forfeiture. Income recognition is normally deferred until the stock is no longer subject to that risk or you sell it. You then pay taxes on the stock’s fair market value at … Continued

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