Recent legislation that will impact your 2014 taxes for both - TopicsExpress

Recent legislation that will impact your 2014 taxes for both business and individuals was signed into law on Friday, December 19th. TIPA (Tax Increase Prevention Act of 2014) basically extended ONLY through 2014 some valuable deductions that technically expired at the end of 2013. Also, be prepared for some changes on the individual and business tax front as some of the Affordable Care Act and new capitalization and expense provisions come into play for 2014. Tax season is just around the corner!

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