IRS spotlights expanded tax benefits for depreciation and expensing

Businesses can immediately expense more

Businesses may elect to expense all or part of the cost of what is often referred to as Section 179 property and deduct it in the year they place the property in service. The maximum deduction is increased to $1,000,000, and the phase-out threshold is increased to $2,500,000. These amounts, adjusted annually for inflation, apply to property placed in service in tax-year 2019. Full Story

What Does the Flag Mean to You Video Contest

In honor of the Red, White and Blue and those who fought for our Freedom, G.I. Tax is hosting a “What Does the Flag Mean to You” video contest.

Arm Yourself Against Identity Theft

In a recent report issued by the Government Accountability Office, the IRS reports paying out over $5.8 billion in fraudulent refunds. Though the IRS was able to prevent $24.2 billion in fraudulent identity theft refunds in 2013, the need to protect yourself from identity theft is as important as ever.

How to Keep Tabs on your Taxes All Year Long

Keeping tabs on your taxes all year long may seem difficult, but really it makes filing them every year much easier. Keeping organized is the first step in painless tax preparation. It is easy to keep tabs on your taxes if you follow these quick steps:

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