10 Midyear Tax Planning Moves Inspired by the PATH Act

Numerous tax breaks have been retroactively expanded for 2015 and beyond — or, in some cases, been made permanent — under the Protecting Americans from Tax Hikes (PATH) Act of 2015. Now that the dust from the new law has settled, individuals and small business owners can plan ahead with these 10 midyear tax strategies inspired by the recent legislation. 5 Tax Breaks for Individuals Continue Reading

Heavy Vehicle Purchases Offer Significant Business Tax Breaks…For Now

Favorable depreciation rules for business use of "heavy" SUVs, pickups and vans were locked in by the Protecting Americans from Tax Hikes (PATH) Act of 2015. By taking advantage of these rules, you may be able to write off the entire business-use portion of a heavy vehicle's cost in the first year. Here's how it works. Depreciation Deductions for Lighter Vehicles The PATH Act extended Continue Reading

The New PATH Act Contains Four Payroll Tax Changes

The tax law passed by Congress and signed by President Obama on December 18 contains some payroll tax provisions that are of interest to employers. Here are four changes in the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). 1. There's now parity between employer-provided mass transit and parking benefits. The new law permanently extends the maximum monthly exclusion amount for Continue Reading