President Obama Signs “Tax Increase Prevention Act of 2014”

Here’s a list of the key individual and business provisions that have been extended and may affect you or your business:

  • Section 179 expense for new equipment purchases restored to $500,000
  • 50 per cent bonus depreciation for new asset purchases
  • Credit for nonbusiness energy property
  • Above the line deduction for qualified tuition and related expenses
  • Above the line deduction of $250 for teacher expenses
  • Premiums for mortgage insurance deductible as qualified residence interest
  • The provision that permits tax-free distributions to charity from an individual retirement account (IRA) of up to $100,000 per taxpayer per tax year, by taxpayers age 70 1/2 or older

 

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I would like to take this opportunity to commend Snyder and Company, PA for doing an outstanding job.  I can truly say that they provide excellent customer service.   I have had the pleasure of working with Rob for the last several years and I couldn’t ask for a more professional, dedicated and committed CPA.  Rob always give his undivided attention to whatever matter or concern may arise.  He has helped me over come several obstacles throughout the years and has done so graciously.  Rob has gone beyond the call of duty to assist me establish an LLC and healthcare benefits for the company.
 
Rob is very knowledgeable when it comes to the ever changing tax laws and provides guidance on the best way to move forward my when changes directly affect my business.   
 
I would not hesitate to recommend Snyder and Company to anyone in need of excellent financial service.
Sharon Carter, Owner-Director, Toddlers Tech

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