by raleighcpa | Nov 19, 2018 | Deductions, Tax Returns, TCJA 2017, Vehicle Depreciation
The Tax Cuts and Jobs Act of 2017 (TCJA) increased depreciation limits for passenger vehicles (not SUVs). If the taxpayer doesn’t claim bonus depreciation, the greatest allowable depreciation deduction is: $10,000 for the first year, $16,000 for the second year,...
by raleighcpa | Nov 17, 2018 | IRS2GO Mobile App, Offer in Compromise, Tax Payment Plans, Tax Payments, Uncategorized
The Internal Revenue Service reminds taxpayers who can’t pay the full amount of federal taxes they owe that they should file their tax return on time and pay as much as possible. This will help reduce penalties and interest. If they can’t pay it all, they have some...
