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Accelerating or deferring income/deductions as part of a year-end tax strategy

The arrival of year end presents special opportunities for most taxpayers to take steps in lowering their tax liability. The tax law imposes tax liability based upon a “tax year.” For most individuals and small business, their tax year is the same as the calendar year. As 2013 year end gets closer, most taxpayers have […]

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Presti & Naegele’s Joe Romano Discusses Retaining Talent in Forbes Magazine

How Successful Companies Hold On To Their Talent — And Why It’s So Important Sometimes you get lucky: you capitalize on a new technology, build a business, and within a few short years sell it for 126,315 bitcoins (+/- $11.4M), as Erik Voorhees did with SatoshiDice. The other 99% of entrepreneurs, unfortunately, spend much of […]

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Fraud Detection and Prevention in the Workplace

Are You at Risk for Fraud? Identify your Risk and Protect your Organization from Internal Fraud   Do you know your organizations risk for fraud? Just when everything seems to be going well, internal fraud can derail even the best run company. Understanding the value of internal controls and the critical importance of reviewing those […]

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How do I . . . Claim bonus depreciation in 2013?

Bonus depreciation will expire for most taxpayers at the end of 2013 unless Congress extends the provision. A 50-percent bonus depreciation deduction (the “special first-year depreciation allowance”) is allowed for the first year that qualifying property is placed in service. Bonus depreciation is available for property acquired after December 31, 2007 and acquired and placed […]

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IRS issues final “repair” regulations with looming effective date

The IRS has issued much-anticipated final “repair” regulations that provide guidance on the treatment of costs to acquire, produce or improve tangible property. These regulations take effect January 1, 2014. They affect virtually any business with tangible assets. The IRS has estimated that about 4 million businesses must comply. At a length of over 200 […]

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