Final Legislation for 2015 Tax Year

Last week Congress passed the final legislation that will affect 2015 tax season.

Highlights include:

  • 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