Did
you know that bonus 50% first-year depreciation will no longer be available
to your business in 2014 and beyond?
And that the Section 179 expensing limit,
which allows you to deduct qualified costs immediately instead
of expensing them over time, will tumble to $25,000
from
$500,000, where it's been for the last four years? These are just a few of the changes that businesses should prepare for this year. While many tax rules are permanent,
others are written to
expire at some point in the future. Some are extended and given new deadlines, but a
significant number of popular
"extenders" terminated at the end of 2013, including both business
credits and deductions.
How
will the end of these and other credits or deductions affect you? And what other tax law changes could have an impact on your company
finances? Contact our office to find out the
answers. We can offer the advice and planning recommendations you need to minimize your tax