Last week Congress passed the final legislation that will affect 2015 tax season.
- Continued 10% energy credit for all qualified non-business property.
- Child tax credit is permanently set to $3,000.
- Section 179 expending limit for businesses has once again been increased to $500,000.
See full article: Journal of Accountancy 2015 Updates
Wish you and yours a very Happy and Prosperous New Year!
The W. H. O’Connell & Associates Team