Santa is Mad at Congress

Posted on December 21, 2011 by Leasa Magnuson in Business Tax, Individual Tax

Santa has never been political but if Congress’ doesn’t make some difficult decisions soon and cut some government sponsored programs and increase some taxes he is going to pull all his white hair out and retire to a deserted island somewhere, never to deliver toys again. All the indecision makes it difficult for him to […]

View Post Confusing Tax Code, Payroll Taxes, Section 179, Year End Tax Planning

Small Business Jobs Act of 2010 Might Stimulate the Economy

Posted on October 20, 2010 by Leasa Magnuson in Business Tax

One of the worries this year for small businesses was the Section 179 expense of $250,000 was to “sunset” and revert back to $25,000 for 2011. Items that are purchased to be used in business that have a life of more than one year are considered capital assets and have to be “capitalized” and a […]

View Post Section 179, Small Business Jobs Act 2010