Category Archives: Taxes

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Tax Deductions Section 179. Tax Credits in 2014

Tax creditsOn December 16, 2014 the U.S. Senate passed a $42 billion package of tax incentives with dozens of lapsed breaks for 2014. This may have an impact for companies who acquired software products this year. And there is still time to make purchased and put equipment in place in 2014 as tax credits are set to expire in two weeks. By extending the tax breaks through 2014, Congress did the bare minimum necessary to avoid creating a major disruption to the 2015 tax-filing season or saddling taxpayers with unexpectedly higher bills, as reported by Bloomberg Business Week. There is still time to upgrade your software with CheckPlusCFO secure payment solutions to process checks and electronic payments.

 

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W-9 Form Update From IRS

w-9 formThe new draft of W-9 form and instructions were released by IRS on November 7, 2014.  The main changes affect companies and individuals holding accounts in foreign financial institutions. FATCA requires that foreign financial institutions report all U.S. account holders. The draft of W-9 may not be used until the formal release of the form. It is subject to change due to regulation.

 

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