1099’s are due January 29, 2016

| Alerding Alerts

The IRS requires reporting of payments of $600 or more to any individual or unincorporated business (including LLCs) for services or rent. This includes payments for repair/maintenance services, professional services, (including all attorneys whether incorporated or not), contract labor and rent. In addition, if you paid in excess of $10 of interest to any individual, you must prepare a 1099-Int. We would be happy to prepare these required forms for you again this year. If you have not already Read more [...]

The 2015 PATH Act Makes Small Business Expensing (Section 179) Permanent

| Alerding Alerts

On Friday, December 18, one of the most positive tax legislative actions for small business was signed into law. Congress made permanent the $500,000 Section 179 expensing limit, thus enabling a small business to elect to expense up to $500,000 of investment in new equipment and other qualifying property instead of having to depreciate the cost over a number of years. In recent years, the $500,000 limit and some other favorable aspects of the election have been extended for a year or two at a Read more [...]