Included in the Tax Increase Prevention Act of 2014 is a new type of tax-advantaged savings program for individuals with disabilities that begins in tax years after December 31, 2014. The new provisions are provided in the Achieving a Better Life Experience (ABLE) Act of 2014.

Just before adjourning on December 16, the Senate passed the Tax Increase Prevention Act of 2014 (TIPA), which was passed by the House on December 3. The White House announced that President Obama will sign the law, which renews more than 50 expired tax breaks.

To take a 2014 charitable donation deduction, the gift must be made by December 31, 2014. According to the IRS, a donation generally is “made” at the time of its “unconditional delivery.” But what does this mean?

The Financial Accounting Standards Board (FASB) and Securities and Exchange Commission (SEC) are concurrently in the process of reviewing the disclosure framework for U.S. Generally Accepted Accounting Principles (GAAP) and regulatory filings.

Appreciating investments that don’t generate current income aren’t taxed until sold, deferring tax and perhaps allowing you to time the sale to your tax advantage.

On December 3, 2014, the House of Representatives passed the Tax Increase Prevention Act of 2014 (H.R. 5771). The bill, which passed with bipartisan support, contains a one-year retroactive extension of most (but not all) of the temporary tax deductions, credits and incentives that expired at the end of 2013.

In Hallmark Marketing Co. LLC v. Combs, Tex. App. Ct., No 13-14-00093-CV (11/13/14), the Texas Court of Appeals stated that a net loss from investment and capital asset sales could be used to reduce the taxpayer’s total gross receipts calculation, but also have a secondary effect of increasing its Texas apportionment calculation.

Recognizing the value of responding to risks and reducing vulnerabilities within your organization can provide a foundation for addressing entity-level threats as they emerge.

If you’re looking to reduce your 2014 tax bill, you may want to consider purchasing a business vehicle before year end.

On November 15, online enrollment for 2015 coverage through the Small Business Health Options Program (SHOP) went live.