Tag Archives: tax savings

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…

LOSSES THAT OFFER TAX SAVINGS

If you’re interested in minimizing your tax obligations and maximizing your savings, consider these helpful tips, and contact us to review your tax strategy. Losses that Offer Tax Savings Capital loss, casualty loss, net operating loss — a loss by any name causes a financial setback. It’s something no one likes to think about, much Read More…