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Posts from 2015

  • Unreimbursed Partnership Expenses For those of you with partnerships, there’s a subtle but important rule that I wanted to bring to your attention. If you’re a partner and you’re used to claiming expenses related to the partnership on your personal return (business mileage and home office expenses are ... Continue Reading
  • Accounting Capitalization Policy Technically the IRS requires businesses to capitalize (depreciate) all assets that have a life of longer than a year. Which might not sound that bad, but it would create a lot of headaches for smaller businesses trying to keep track of everything. Imagine maintaining a ... Continue Reading
  • Individual Mandate Penalty / Open Enrollment Anyone without health insurance during 2014 is probably already familiar with the 1% of income penalty assessed for not having insurance. What you might not know is that the penalty increases in 2015 and 2016, when it becomes 2% and 2.5%, respectively. In order to avoid next ... Continue Reading
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