Tax Update

Details of tax reform legislation revealed

The House Ways and Means Committee released draft tax reform legislation on Thursday. The Tax Cuts and Jobs Act, H.R. 1, incorporates many of the provisions [...]

Tax credits for qualified plug-in electric vehicles make their lofty cost more palatable

Auto manufacturers have significantly increased their offerings of passenger autos that are propelled solely or significantly by electric power. Plug-ins [...]

Oil and Gas Tax Benefits

Direct participation in oil and gas can generate several tax benefits. These benefits range from large up front deductions for intangible drilling costs (IDC), [...]

New Congressional Spending Bill Affects Individuals and Businesses

Section 179 deduction The legislation permanently extends this first-year depreciation deduction at the $500,000 level for tax years beginning in 2015 and [...]

5 Tax Shelters: Measuring the Payoff

Somebody’s got a scheme to legally delay taxes on your investment or, better still, to eliminate them. How good is that? It pays to know. You might be on [...]