Paul Ryan says “death tax” hurts Wisconsin small businesses. IRS data shows otherwise

Does the estate tax really hurt small businesses? House Speaker Paul Ryan thinks so. He revived this longstanding debate in a May 17 column in the Kenosha News, in which he defended the Republican plan to abolish the levy on inherited wealth. Ryan wrote that the “death tax” can “result in double, and potentially even […]

IRS Ups Deduction vs. Depreciation to $2,500 for Computers, Phones

The Internal Revenue Service has increased the amount small businesses can expense versus depreciate on their taxes each year. It’s a change that should simplify record keeping and increase the amount of a capital investment you can write off in a year. Specifically, the federal agency has boosted the so-called “IRS safe harbor” limit businesses […]

IRS Ups Deduction vs. Depreciation to $2,500 for Computers, Phones

The Internal Revenue Service has increased the amount small businesses can expense versus depreciate on their taxes each year. It’s a change that should simplify record keeping and increase the amount of a capital investment you can write off in a year. Specifically, the federal agency has boosted the so-called “IRS safe harbor” limit businesses […]

US IRS Breach Bigger Than First Thought, With Over 700,000 Victims

The IRS said Friday that the number of taxpayers whose tax information may have been stolen by computer hackers now exceeds 700,000 – more than double the agency’s previous estimate. The tax collecting agency said 390,000 more taxpayer accounts may have compromised than the 334,000 it warned about a year and a half ago. The […]