Tax and Business Alert - March 2015



Welcome to this month's edition of the Tax and Business Alert. Our goal is to provide you with current articles on various tax and business topics. The articles are intended to keep you up to date on trends and issues that may impact your business and personal financial affairs. Please contact us if you have questions about any of the issues discussed.

TAX INCREASE PREVENTION ACT OF 2014 (TIPA)
The Tax Increase Prevention Act of 2014 (TIPA) was signed into law on December 19, 2014. It retroactively extends most of the federal income tax breaks that would have affected many individuals and businesses through 2014. This article discusses some of the extended provisions impacting individual taxpayers, such as the qualified tuition deduction, the mortgage insurance premium deduction, and more. Read more...

ABLE ACCOUNTS FOR DISABLED INDIVIDUALS
The Achieving a Better Life Experience Act (ABLE) of 2014 establishes a new type of tax-advantaged account for disabled individuals, allowing them to save money for future needs while remaining eligible for government benefit programs. This article discusses details of the act, including who is eligible and contribution limits. Read more...

TAX BREAKS FOR BUSINESSES EXTENDED THROUGH 2014
This article describes a variety of business tax breaks that were extended through 2014. They include extended cost recovery provisions, along with certain business credits, a deduction for energy-efficient commercial buildings, and more. Read more...

4 GOOD REASONS TO DIRECT DEPOSIT YOUR REFUND
Using direct deposit for a tax refund offers convenience and security, among other advantages. This article explains why. Read more...

NATIONAL TAXPAYER ADVOCATE DELIVERS ANNUAL REPORT TO CONGRESS
This article discusses National Taxpayer Advocate Nina E. Olson's concern that taxpayers this year are likely to receive the worst levels of taxpayer service since at least 2001. She offers several corrective measures. Read more...

This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use. The information contained in this newsletter was not intended or written to be used and cannot be used for the purpose of (1) avoiding tax-related penalties prescribed by the Internal Revenue Code or (2) promoting or marketing any tax-related matter addressed herein. © 2015