General Consultant Discussion

President Signs ""Tax Increase Prevention Act of 2014"" (TIPA) This generally extends through the end of 2014 over fifty tax relief provisions that expired at the end of 2013. Better late than never. Important: Applicable only through 12/31/2014. Business provisions that are directly applicable to hardware/software purchases are the following: Sec. 179 Expense of Certain Depreciable Assets up to $500,000 of eligible costs relating to Section 179 property placed in service during a taxable year beginning in 2013 or 2014 may be expensed. Bonus depreciation certain capital expenditures are allowed to be deducted more quickly. Property must be placed in service before January 1, 2015 and may have a bonus depreciation allowance equal to 50 percent of the adjusted basis of the qualified property. Show your customers and prospects that you truly have their best interests in mind by tracking this legislation. They can't drag their feet, though, because there are only 10 days left after this weekend to finalize these purchases.

Unfortunately a total blunder on the Section 179. Typically many of our customers are at a full sprint to fulfill the Section 179 fixed asset additions by late October/early November. They released this much too late to have much impact at this point. Definitely hurt the economic growth for durable goods. It is frustrating when you know what their vote will be but they politically stage it for months.