Wednesday, February 23, 2011

A little bit more on the Business Climate Survey and a little tax heads-up

Here is a nice 2 minute video about the survey results as described by Marvin and Company's Managing Director Kevin McCoy.

http://vimeo.com/20151192

Hope you all have signed up for the tax seminar coming up at the Troy Record. Thanks for all the support!

Actually one other thing - working through a lot of corporate returns right now and make sure you are making the right decision on whether or not to use Section 179 or Bonus depreciation (where applicable). I know there aren't too many companies out there that have taxable income over the past 2 years but bonus depreciation can create a net operating loss where section 179 can not - and if you had taxable income in the past two years maybe creating an NOL would be worth it and then you could amend your previous year's return and get some money refunded. I know this is pretty technical but your accountant should know all about this but if you need any help please don't hesitate to contact me at anytime.

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