Bonus Depreciation Now Carries A Bonus For Used Property Bonus depreciation has had its ups and downs in the legislature. Just when you thought you had it all figured out, the depreciation percentage was modified to 100% and the definition of qualified property now includes “used” property! For now proposed guidance seems to appear to...
BOCA RATON, FL (April 23, 2015) — Fuoco Group (www.fuoco.com) is proud to announce the merger of MCG Financial Services, Approved Accounting Associates and NHC Hospitality Consultants, a trilogy of accounting and consulting firms (“MCG”) based in Boca Raton, FL founded and operated by Joel Mason, CPA.In addition to providing traditional accounting and tax services,...
Maybe you shouldn’t be pacing the floor at night! Are these misconceptions keeping you up? 1. Alimony is no longer deductible for anyone. Many folks believe that after the Tax Cuts and Jobs Act (TCJA) of 2017 that alimony received can no longer be included in income, and alimony paid is no longer deductible from...
The IRS recently announced it wouldn’t penalize taxpayers whose tax withholding and estimated tax payments fell short last year because of changes in the withholding tables under Tax Reform. The relief is designed to help taxpayers who weren’t able to properly adjust their withholding and estimated tax payments to reflect an array of changes brought...
The good news is the IRS has released the long awaited “postcard” size Form 1040. The bad news is, it has six related tax schedules. Still you have to appreciate the attempt to simplify the tax preparation process. The six related schedules may or may not need to be filed along with the Form 1040,...
