Income Tax

 3 Tax Moves Businesses Should Make Now

November 24, 2013 

3 Tax Moves Businesses Should Make Now

Some big-dollar tax deductions that affect businesses are set to expire in 2013, so now’s the time to make sure your company considers taking advantage of them for the current tax year. Doing so may allow you to buy more equipment, send less to the IRS, or both.

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November 18, 2013 

Congressman Files Bill to Repeal Federal Income Tax

One of Oklahoma's Representatives in the U.S. Congress, Jim Bridenstine, has filed legislation that could lead to repeal of the 16th Amendment to the U.S. Constitution -- the amendment enabling the current federal income tax.

 Missouri Will Allow Joint Tax Returns for Same Sex Couples

November 15, 2013 

Missouri Will Allow Joint Tax Returns for Same Sex Couples

Same-sex couples who are legally married in other states can now file joint state tax returns in Missouri, Gov. Jay Nixon said Thursday, noting that he was making the change because state tax law is linked to federal tax law.

 Tax-Free Start-Up Plan in NY Draws Business Interest

November 14, 2013 

Tax-Free Start-Up Plan in NY Draws Business Interest

On the day his economic development agency proposed emergency rules to implement his START-UP NY program, Gov. Andrew M. Cuomo said hundreds of companies have expressed an interest in getting tax-free benefits in return for locating start-up businesses on college campuses.

 Don’t Forget the Tax Breaks for SUVs, Trucks and Vans

November 13, 2013 

Don’t Forget the Tax Breaks for SUVs, Trucks and Vans

New and used vehicles that fall outside the passenger auto definition also qualify for the Section 179 deduction (generally a total of $500,000 for all eligible property placed in service in tax years beginning in 2013). As explained later, however, heavy SUVs are subject to a reduced Section 179 limit of $25,000 per vehicle.