BLS Insights

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Month: December 2015

Depreciation Extenders: Section 179 made Permanent and Bonus Depreciation Given Five-year Phase-down

December 29, 2015

The Protecting Americans from Tax Hikes Act (PATH) was passed by Congress late last week and signed into law by President Obama.

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Congress Closing Loopholes for Social Security Benefits

December 22, 2015

The Bipartisan Budget Act of 2015, which was signed into law on November 2, 2015, is closing some of the advantageous Social Security filing options that were formerly available.

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Health Coverage Information Reporting Deadlines

December 22, 2015

With the end of the year approaching, it is important to be aware of reporting requirements your organization may be subject to under the IRS.

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Using the Section 179 Deduction as a Planning Tool

December 17, 2015

Imagine a few weeks before the end of the year, you take a look at your income statement and realize you are showing a $50,000 profit.

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National Council of Nonprofits is Asking for Feedback on Gift Substantiation Proposed Regulations

December 14, 2015

In September 2015 the IRS proposed regulations that would change the gift substantiation rules.

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Reasonable Compensation for S Corporation Owners

December 08, 2015

How does an owner decide what is a reasonable wage and distribution?

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