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Summer 2014 Newsletter: Prepare for the Medicare surtax in your 2014 planning. Update-Summer2014.pdf


Winter 2013 CLIENT UPDATE Newsletter: Heath-care reform law gets underway for individuals. Update-Winter2013.pdf.


Fall 2013 CLIENT UPDATE Newsletter: Do you have obsolete inventory? Update-Fall2013.pdf.


Spring 2013 CLIENT UPDATE Newsletter: Tax legislation effects: Update-Spring2013.pdf.


Winter 2012 CLIENT UPDATE Newsletter: Year-end checklist for taxes: Update-Winter2012.pdf.


Fall 2012 CLIENT UPDATE Newsletter: Supreme Court upholds 2010 health care law: Update-Fall2012.pdf.


Summer 2012 CLIENT UPDATE Newsletter: Diversify investments by focusing on taxes: Update-Summer2012.pdf.


Spring 2012 CLIENT UPDATE Newsletter: 12 ways to improve your financial health in 2012: Update-Spring2012.pdf.


Winter 2011 CLIENT UPDATE Newsletter: Tax rules can provide relief when disaster strikes.  Update-Winter2011.pdf.


Fall 2011 CLIENT UPDATE Newsletter: New bonus depreciation rules.  UpdateFall2011.pdf.


Spring 2011 CLIENT UPDATE Newsletter: New tax rules offer opportunities. Are you saving enough?UpdateSpr2011.pdf.


Winter 2010 CLIENT UPDATE Newsletter: Small Business Jobs Act restores familiar tax breaks. UpdateWinter10.pdf.


Fall 2010 CLIENT UPDATE Newsletter: New 2010 tax credit available to small businesses.  ClientUpdateFall10.pdf.


Summer 2010 CLIENT UPDATE: Health care reform includes current and future tax changes.  ClientUpdate.pdf.


August 2014

Are there any changes in 2014 to bonus depreciation and Section 179 expensing allowances for business property?

 

In 2013, 50% special bonus depreciation was allowed for qualified property additions.  This provision expired at the end of 2013. 


In addition, the expanded Section 179 deduction and qualifying property limits for 2013 will be reduced in 2014. In 2013, a business could take a maximum deduction of $500,000 of qualified trade or business property additions if the amount of qualifying property placed in service at was at or below the threshold of $2,000,000. For each dollar of qualifying property over the threshold amount, the maximum deduction is reduced by $1. For 2014, the maximum deduction and threshold amount is reduced to $25,0000 and $200,000, respectively.


Although expired at the end of 2013, both of these provisions are included in the EXPIRE Act of 2014, a bi-partisan extenders package, and it is possible that they will be retroactively extended for two more years. Please ask your accountant if you would like more information on these provisions. 

  




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