We have to agree that it is likely only a handful of the expired tax provisions referred to as extenders will be reenacted before the end of this year or early next year. The prospect for compromise by our elected leaders on this isnt looking good. Those tax breaks with the best chance of being around in 2014 and/or 2015 include (1) the research and development credit, (2) Sec 179 asset expensing, (3) bonus first-year depreciation, (4) higher education deductions and (5) tax-free IRA distributions to qualified charities.
Posted on: Fri, 21 Nov 2014 00:33:41 +0000