The Congressional Research Service published a report on July 15, 2013 on bonus depreciation and expensing allowances. The report is lukewarm at best as to the economic benefits of these tax incentives....more
This edition of the Burns & Levinson Business Aviation Report covers new developments in the following areas of business aviation:
• Rentals from leasing aircraft may be subject to the new 3.8 percent tax on net...more
The following are select tax topics affecting individuals and businesses for tax year 2012.
Personal Exemptions: The personal exemption is $3,800 for 2012, an increase of $100.
In the early morning hours of January 1, 2013, the Senate approved the American Taxpayer Relief Act of 2012 (the “Act”) by a vote of 89-8. Less than 24 hours later, the House of Representatives also approved the Act by a vote...more