The Tax Increase Prevention Act of 2014 (TIPA) renewed through 2014 a long list of business federal income tax breaks that had been allowed to expire at the end of 2013. This article provides a quick summary of the most important business extenders that were just resurrected — and a few that were not. DEPRECIATION AND COST RECOVERY...

The Tax Increase Prevention Act of 2014, which was signed into law on December 19, renewed through 2014 a long list of personal and business federal income tax breaks that had been allowed to expire at the end of 2013. Because Congress habitually allows these breaks to expire before restoring them for a year or two, they...

Just before adjourning on December 16, the Senate passed the Tax Increase Prevention Act of 2014 (TIPA), which was passed by the House on December 3. The White House announced that President Obama will sign the law, which renews more than 50 expired tax breaks. This gives taxpayers just 10 days — excluding the federal holiday and weekends...

In preparing for this edition, we came across some of Dan Gardiner’s files and reports, finding one that summarized the results of his clients from May 1964 to May 1965 closes. We thought you might enjoy reading what the averages were of what he was seeing in his audits. Here are excerpts and stats from that analysis.

If your coop engages in the sale of petroleum products, the following items may be necessary: Retail Diesel Fuel Pump Stickers; Acceptable payment methods for tax exempt fuel; Federal Fuel Exemptions; Form 637 – Application for Registration (For Certain Excise Tax Activities).

As we all know, the 50% bonus depreciation for qualifying assets ended December 31, 2013 and the higher expensing limits under section 179 sunset with your 2013 tax year. It is now possible that lawmakers will approve a retroactive application of bonus depreciation back to January 1, 2014 and that the higher limits of section 179 will be reinstated as well. A leading publication expressed the opinion that firms are safe making their remaining asset acquisition plans for 2014 based on these assumptions. So at this point it is not certain if this will be passed but this info is the latest available.