Tag Archives: change

PENNSYLVANIA CHANGE TO IRC SECTION 179 DEDUCTION & IRC SEC 1031 LIKE-KIND EXCHANGES

Pennsylvania Personal Income Tax has made updates to their provisions regarding IRC Sec 179 expense deduction and IRC Sec 1031 Like-Kind Exchanges. These changes will be applicable for property placed in service and like-kind exchange transactions occurring after December 31, 2022. What is the change to the Sec 179 expense deduction? Currently Pennsylvania limits the Read More…

2019 NJ HEALTH INSURANCE MANDATE

Starting in 2019, there is no longer a  Form 1040 penalty for not having health insurance for every month of the year.  However, starting in 2019, New Jersey is now requiring minimum health insurance coverage for NJ residents.  Here are details for the new NJ Health Insurance Mandate: https://www.state.nj.us/treasury/njhealthinsurancemandate/employers.shtml. Read more helpful tax tidbits here. Read More…