Bonus Depreciation: Is It Worth It?

Bonus Depreciation: Is It Worth It?

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.

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Did You Ever Think You Would See This on an Expense Report?

Did You Ever Think You Would See This on an Expense Report?

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??
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10 Things You Need to Know About Unclaimed Property

10 Things You Need to Know About Unclaimed Property

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.

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It’s All About Thanks

It’s All About Thanks

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’.

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Are You a Planner or a Procrastinator?

Are You a Planner or a Procrastinator?

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.  

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