With the end of the year approaching, it’s time to once again review year-end tax planning strategies that could reduce your 2015 taxes. Year-end planning is particularly challenging this year because a host of popular individual tax breaks expired at the end of 2014. In previous years, Congress has retroactively extended the vast majority of these temporary tax breaks after they expired. However, as we complete this letter, Congress has not yet extended these tax provisions.
It’s that time of year when businesses should consider year-end planning strategies. This task is particularly challenging for 2015 due to the long list of popular, temporary business tax breaks that expired at the end of 2014. In the past, Congress has retroactively extended the vast majority of these tax breaks after they expired. However, as we complete this letter, Congress has not passed legislation to extend the expired provisions.
An investment in commercial real estate, as with any investment, is a bet on future events and circumstances. Since the value of the acquired property can change if its location’s demographics and economy shift over time. That’s why it is critical to determine at the start of your search how much and where to invest in order to hedge your real estate bet.
The IRS has become much more efficient and effective in its examination activities related to exempt organizations. Although the examination rate is lower for exempt organizations than for other taxpayers, TE/GE is attempting to better target its examinations for improved results. One final note: the IRS still relies on trustworthy outside data and public information, so it’s important to make sure that your organization is accurately portrayed in the media and on its Form 990, which is a public document available on www.guidestar.org.
According to our latest survey of residential furniture manufacturers and distributors, new orders in September 2015 were basically even with September 2014. After 17 consecutive months of plus order percentages, the results were at least flat with the prior year and were up 9 percent over August. New orders were up for just over half of the participants, down from 60 percent reported last month.