Earlier this year, the Congressional Research Service (CRS) released the Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects report written by Gary Guenther, Analyst in Public Finance. Included with a historical analysis of the effects of increased limitation on Section 179 and the advent of bonus depreciation, the report also gives a preview of initiatives by the current Congress to modify Section 179 and bonus.
As we are currently subject to a Congress polarized by self-interest, the business community has difficulty planning for any anticipated changes in Sec 179 and bonus.read more
Recently, Robert Half Management ran a CFO survey to solicit the most unusual submissions on expense reports. There were more than two dozen unusual items. Below are just a few that I thought stood out. I can only imagine the reasons they were submitted.
- Lottery tickets – I guess if you thought you weren’t lucky enough to win the lottery, you would be lucky enough to sneak this through expense approval.
- Cosmetic surgery – If you change your looks, they won’t know that you really submitted this??
If I rated the sessions I attended at the Chicago Tax Club’s recent Fall Seminar, I would have to say the most fascinating (bet you don’t often hear that word to describe a tax session!) was SOX Controls Issues & Much More, a panel discussion led by Michael Giannettino of PwC, Matthew Chenowth of True Partners Consulting and Robert Peters of Duff & Phelps. I picked this session to attend since our Tax Calendar product supports all of the state due dates for Unclaimed Property (UP) filings, and l wanted to learn more about the topic. I was not disappointed, as the three panelists shared their insight into why unclaimed property has become such a big issue for corporate tax departments.read more
Just like all kids, when I was growing up, Christmas was my favorite holiday. As I grow older and a little more mellow, I find that Thanksgiving has become my favorite holiday. I don’t need all the decorations, the time management as I try to fit everything in as the year grows shorter and the stress because I can’t find that just-right gift for the person on my list that has everything.
I enjoy that Thanksgiving is centered on food, family, friends and the experience. I truly understand the thanks in Thanksgiving. I could go through a long list of the obvious people and things I am thankful for, but what about the things that happen every day that don’t get recognized with ‘thanks’.read more
I am a planner. That doesn’t mean I don’t like surprises. I do like surprises… good surprises, which is why I am a planner. If I plan the project, event or occasion, there won’t be any bad surprises. That’s why I plan…to avoid the bad surprises.
My husband, on the other hand, is a procrastinator. He will wait until the last minute to prepare. Which explains why he is always missing some forgotten item on a trip, his truck battery dies at the least opportune time (“Honey, remember all of those warning signs then the car wouldn’t start right away?”) and the belated birthday gift I got one time.read more