taxes - CAPATA CPA

Sec. 179 expensing provides small businesses tax savings on 2017 returns — and more savings in the future

March 7, 2023February 27, 2018

If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep this tax break in mind in your property purchase planning, because the Tax Cuts and Jobs Act (TCJA), signed into law this past December, significantly enhances it beginning in 2018. 2017 Sec. 179 tax benefits Sec. 179 expensing allows eligible taxpayers to … Read more

Don’t roll the dice with your taxes if you gamble this year

March 8, 2023August 4, 2016

Don’t roll the dice with your taxes if you gamble this year For anyone who takes a spin at roulette, cries out “Bingo!” or engages in other wagering activities, it’s important to be familiar with the applicable tax rules. Otherwise, you could be putting yourself at risk for interest or penalties — or missing out on tax-saving opportunities. Wins You must report 100% of your wagering winnings as taxable income. … Read more

Why An Estimated Tax Checkup May Be Necessary

March 8, 2023May 6, 2016

Why An Estimated Tax Checkup May Be Necessary It’s not a major disaster if you owed some money when you filed your return-after all, you’d rather have the use of the funds for as long as possible. But what you want to avoid is having to pay the IRS a penalty for underpaying your taxes during the year. If you owe the estimated tax underpayment penalty, which is nondeductible, you’re … Read more

Why investing in small-business stocks may make more tax sense than ever

March 8, 2023January 19, 2016

Why investing in small-business stocks may make more tax sense than ever By purchasing stock in certain small businesses, you can not only diversify your portfolio but also enjoy preferential tax treatment. And under a provision of the tax extenders act signed into law this past December (the PATH Act), such stock is now even more attractive from a tax perspective. 100% exclusion from gain The PATH Act makes permanent … Read more

Save tax- or at least defer it- by carefully timing business income and expenses

March 8, 2023October 27, 2015

Save tax- or at least defer it- by carefully timing business income and expenses The first step to smart timing is to project your business’s income and expenses for 2015 and 2016. With this information in hand, you can determine the best year-end timing strategy for your business. If you expect to be in the same or lower tax bracket in 2016, consider: Deferring income to 2016. If your business … Read more

Tax treatment of NQSOs differs from that of their better-known counterpart

July 21, 2015

Tax treatment of NQSOs differs from that of their better-known counterpart Tax treatment of NQSOs: With non-qualified stock options (NQSOs), if the stock appreciates beyond your exercise price, you can buy shares at a price below what they’re trading for. This is the same as for the perhaps better-known incentive stock options (ISOs). The tax treatment of NQSOs, however, differs from that of ISOs: NQSOs create compensation income — taxed … Read more

Sec. 179 expensing provides small businesses tax savings on 2017 returns — and more savings in the future

Don’t roll the dice with your taxes if you gamble this year

Why An Estimated Tax Checkup May Be Necessary

Why investing in small-business stocks may make more tax sense than ever

Save tax- or at least defer it- by carefully timing business income and expenses

Tax treatment of NQSOs differs from that of their better-known counterpart

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