Buying a business vehicle before year end may reduce your 2014 tax bill
If you’re looking to reduce your 2014 tax bill, you may want to consider purchasing a business vehicle before year end. Business-related purchases of new or used vehicles may be eligible for Section 179 expensing, which allows you to expense, rather than depreciate over a period of years, some or all of the vehicle’s cost.
Accelerating deductions to save taxes
Smart timing of deductible expenses can reduce your tax liability, and poor timing can unnecessarily increase it. When you don’t expect to be subject to the alternative minimum tax (AMT) in the current year, accelerating deductible expenses into the current year typically is a good idea.
Will the lame-duck Congress revive expired tax breaks for 2014?
With the midterm elections now behind us and control of the U.S. Senate set to shift parties in January, it’s time to revisit the valuable tax breaks that expired at the end of 2013. Will the lame-duck 113th Congress revive any of them for 2014?
Greater MN Job Expansion Program
The Greater Minnesota Job Expansion Program provides tax benefits to businesses located in Greater Minnesota that increase employment. Qualifying businesses that meet job-growth goals may receive sales tax refunds for purchases made during a seven-year period. For the full article, visit the MN Department of Employment and Economic Development website.
Earl Edeburn, KDV Partner, brings us to his family cabin and discusses what KDV can do for our clients' core business functions.
Angie Thomas, KDV Insurance Advisor, discusses how a long term insurance solution may help you manage your risk.
Tim Ernst, KDV ERP Practice Group Leader, discusses how a highly customizable cloud ERP solution can streamline your operations.
Matt Mayer, KDV Government Audit Partner, discusses his love for traveling and the passion KDV has for working with our audit clients.