Section 179 Depreciation Deduction

Starting in year 2015, the Section 179 deduction limit in now permanent at $500,000 with the investment limit at $2,000,000 and indexed for inflation.  If the total cost of Section 179 property exceeds the investment limit, the available Section 179 deduction is...

2016 Health Insurance for S Corporation Owners

Deducting health insurance is a 3 step process for the more than 2% S corporation employee-shareholder.   Send Susan, a Certified Public Accountant, an email to discuss this tax strategy. However, before discussing the 3 step process, the health insurance plan for the...

What is New for Desktop QuickBooks 2016

The following features are included with QuickBooks Pro and Premier 2016 and QuickBooks Enterprise Desktop 16.0 Bill Tracker  You can access it from either the menu bar, select Vendors, then Bill Tracker or from the Vendor Center or from the top or...

2016 Mileage Rates

Beginning Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) is: 54 cents per mile for business miles driven 19 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable...