Businesses that want to accelerate year-end deductions by buying machinery and equipment have a formidable array of tax tools to work with this year, including generous expensing under Section 179 of the tax code. Here’s how to make the most of Code Sec. 179 expensing.

October 25, 2016  
By Mike Trabold

The Department of Labor released the highly anticipated final overtime rule in May, expanding overtime pay eligibility to approximately 4.2 million salaried workers across the country.

Despite recent news that a lawsuit has been filed by 21 states as well as a separate lawsuit filed by business groups led by the U.S. Chamber of Commerce both challenging the rule, businesses are urged to continue with preparation efforts for the Dec. 1, 2016 effective date.

October 6, 2016  
By  Roger Russell

Elections have consequences. While it’s clear that the next President will have his or her own agenda, and possibly the legislative power to back it up, predicting the future based on possible outcomes is risky. Still, the upcoming election, perhaps more than usual, is already affecting people’s contemplated behavior as they anticipate possible outcomes.

washington, D.C. (September 30, 2016)  
By Jeff Stimpson

Farmers and ranchers who were forced to sell livestock due to drought now have more time to replace the livestock and defer tax on any gains from the forced sales, the IRS said.

To qualify, the taxpayers must be selling more stock due to drought than they normally would, and the livestock generally must be replaced within a four-year period; the IRS can extend this period if the drought continues.

By  Michael Cohn September 29, 2016 
 
The Tax Foundation has released its annual ranking of states and how competitive their business tax codes are.

The think tank’s 13th annual State Business Tax Climate Index examines over 100 different variables in five tax categories: corporate, individual income, sales, property, and unemployment insurance.