--- title: Machen McChesney Blog | Nick Wheeler, CPA (14) description: (14) --- [Family of Services](http://machenmcchesney.com/about-us/family-of-companies/)  |  [CPA & Business Advisory](http://machenmcchesney.com)  |  [Payroll, HR & Benefits](http://focuspaysolutions.com/)  |  [Wealth Management](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900 [![mm-re-cobrand-fd-blues](https://info.machen.cpa/hs-fs/hubfs/mm-re-cobrand-fd-blues.png?width=279&height=100&name=mm-re-cobrand-fd-blues.png)](http://machenmcchesney.com) Search this site on Google Search Google Search this site on Google Search Google - [Client Portal](https://machenmcchesney.sharefile.com/Authentication/Login) - [1040 Electronic Organizer](https://www.my1040data.com/account/login/HT7902990) - [LinkedIn](https://www.linkedin.com/company/675439?trk=tyah&trkInfo=idx%3A1-1-1%2CtarId%3A1424436970395%2Ctas%3Amachen+mcchesney) - [Facebook](https://www.facebook.com/machenmcchesney) - 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[Benefits](http://machenmcchesney.com/careers/benefits/) - [Our Stories](http://machenmcchesney.com/careers/our-stories/) - [Current Openings](http://machenmcchesney.com/careers/current-openings-send-resume/) - [Accounting Internship Opportunities](http://machenmcchesney.com/careers/students/) - Contact Us - [Auburn-Opelika Office](http://machenmcchesney.com/contact-us/contact-us-auburn-office/) - [Montgomery Office](http://machenmcchesney.com/contact-us/contact-us-montgomery-office/) # Returning Value Blog ## Nick Wheeler, CPA ### Recent Posts ## [Seven Timely Individual Tax Moves in 2016](https://info.machen.cpa/blog/seven-timely-individual-tax-moves-in-2016) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Oct 11, 2016 [![](https://info.machen.cpa/hubfs/iStock_69423535_LARGE-212291-edited.jpg)](https://info.machen.cpa/blog/seven-timely-individual-tax-moves-in-2016) Undoubtedly, the national elections will have an impact on personal taxes for years to come. But it is unlikely that a lame-duck Congress will enact changes that will significantly affect tax planning for 2016. Accordingly, here are seven tax moves for individuals to consider at the end of this year. [Full Story](https://info.machen.cpa/blog/seven-timely-individual-tax-moves-in-2016) Posted in [Individual Tax](https://info.machen.cpa/blog/topic/individual-tax) ## [Crash Course on Education Tax Breaks](https://info.machen.cpa/blog/crash-course-on-education-tax-breaks) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Sep 13, 2016 [![](https://info.machen.cpa/hubfs/iStock_42941234_LARGE-061904-edited.jpg)](https://info.machen.cpa/blog/crash-course-on-education-tax-breaks) ### Choose one of three tax-savers Now that your children are back in school, you might consider the available tax breaks for higher education expenses. Following extensions and modifications under the Protecting Americans from Tax Hikes (PATH) Act of 2015, there are three primary tax provisions that may benefit parents: the American Opportunity Tax Credit (AOTC), the Lifetime Learning Credit (LLC) and the tuition deduction. [Full Story](https://info.machen.cpa/blog/crash-course-on-education-tax-breaks) Posted in [Individual Tax Planning](https://info.machen.cpa/blog/topic/individual-tax-planning) ## [Giving the “Right Stock” to Charity](https://info.machen.cpa/blog/giving-the-right-stock-to-charity) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Aug 09, 2016 [![](https://info.machen.cpa/hubfs/iStock_43285238_LARGE-094030-edited.jpg)](https://info.machen.cpa/blog/giving-the-right-stock-to-charity) ### **Tax rules may affect your donations** Do you own shares of stock that you want to contribute to charity? Before you pull the trigger on the donation, make sure that you give away the “right kind” of securities instead of the “wrong kind.” It can make a big difference on your tax return. [Full Story](https://info.machen.cpa/blog/giving-the-right-stock-to-charity) Posted in [Individual Tax](https://info.machen.cpa/blog/topic/individual-tax) ## [The Rules for PALs Are Not Friendly](https://info.machen.cpa/blog/the-rules-for-pals-are-not-friendly) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Jul 11, 2016 [![](https://info.machen.cpa/hubfs/iStock_12459256_LARGE-807615-edited.jpg)](https://info.machen.cpa/blog/the-rules-for-pals-are-not-friendly) ### Maximize tax benefits for passive activities Do you own investment real estate—say, an apartment building—that you rent out to tenants? Real estate can be a valuable and reliable source of income. Of course, the rental income is subject to tax, but the resulting tax liability may be offset by deductible expenses. In some cases, you might even qualify for a loss. [Full Story](https://info.machen.cpa/blog/the-rules-for-pals-are-not-friendly) Posted in [Individual Tax](https://info.machen.cpa/blog/topic/individual-tax) ## [Four Kiddie Tax Ideas in Play](https://info.machen.cpa/blog/four-kiddie-tax-ideas-in-play) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Jan 15, 2016 [![](https://info.machen.cpa/hubfs/iStock_000014305312_Small.jpg)](https://info.machen.cpa/blog/four-kiddie-tax-ideas-in-play) ## **How parents can avoid or reduce tax** Despite its name, the “kiddie tax” is not limited to toddlers or preschool children. In fact, it may continue to apply to 20-somethings. Saving grace: At least you may be able to minimize or even eliminate this additional tax. [Full Story](https://info.machen.cpa/blog/four-kiddie-tax-ideas-in-play) Posted in [Tax Planning](https://info.machen.cpa/blog/topic/tax-planning) ## [IRS Significantly Increases Business Deductible for De Minimis Tangible Property](https://info.machen.cpa/blog/irs-significantly-increases-business-deductible-for-de-minimis-tangible-property) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Dec 11, 2015 [![](https://info.machen.cpa/hubfs/Computers.jpg)](https://info.machen.cpa/blog/irs-significantly-increases-business-deductible-for-de-minimis-tangible-property) On November 24, 2015, the IRS issued [Notice 2015-82](https://www.irs.gov/pub/irs-drop/n-15-82.pdf), which increases the deductible amount for purchases of de minimis tangible property from $500 to $2,500 per item. The new limit is for taxpayers who do not have an applicable financial statement (AFS), a financial statement that is required to be filed with the SEC or a certified audited financial statement accompanied by the report of an independent CPA. [Full Story](https://info.machen.cpa/blog/irs-significantly-increases-business-deductible-for-de-minimis-tangible-property) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [How to Maximize the Tax Benefits of Business Trips](https://info.machen.cpa/blog/how-to-maximize-the-tax-benefits-of-business-trips) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Sep 17, 2015 [![](https://info.machen.cpa/hubfs/iStock_000042581002_Small.jpg)](https://info.machen.cpa/blog/how-to-maximize-the-tax-benefits-of-business-trips) Are you planning a business trip to a distant city? If the destination is known for its cultural attractions or recreational activities, you might want to combine your business with a little pleasure. In fact, this could be a chance to get away after the children have gone back to school or to just spend some quality “alone time” with your spouse. [Full Story](https://info.machen.cpa/blog/how-to-maximize-the-tax-benefits-of-business-trips) Posted in [Business Tax](https://info.machen.cpa/blog/topic/business-tax) ## [Maximizing Tax Benefits of Installment Sales](https://info.machen.cpa/blog/maximizing-tax-benefits-of-installment-sales) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Jul 07, 2015 [![](https://info.machen.cpa/hubfs/iStock_000036942980_Large.jpg)](https://info.machen.cpa/blog/maximizing-tax-benefits-of-installment-sales) If you are trying to sell appreciated commercial real estate in today’s market, you may have to compromise. For instance, if you refuse to budge on price, you might have to make other reasonable concessions, such as agreeing to an installment sale for a buyer with limited liquidity. As the name implies, the buyer pays you in a series of installments instead of providing all the cash up front. This could actually be beneficial from a tax perspective if payments are made over two years or more. In that case, not only do you defer some of the tax due on the appreciation in value, but you may reduce your tax liability. [Full Story](https://info.machen.cpa/blog/maximizing-tax-benefits-of-installment-sales) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) ## [Impact of New Tangible Property Regulations on the Real Estate Industry](https://info.machen.cpa/blog/impact-of-new-tangible-property-regulations-on-the-real-estate-industry) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on May 07, 2015 [![](https://info.machen.cpa/hubfs/iStock_000041880984_Large.jpg)](https://info.machen.cpa/blog/impact-of-new-tangible-property-regulations-on-the-real-estate-industry) In September 2013, IRS released final regulations (“Regulations”) dealing with repair and capitalization of tangible property under IRC Sec. 162(a) and 263(a) and regulations relating to dispositions under IRC Sec. 168. These Regulations are effective for taxable years beginning on or after January 1, 2014. Every taxpayer with fixed assets is affected by these new rules; owners of real property are especially impacted. The Regulations are adopted through elections where indicated in the Regulations and by filing Form(s) 3115, Application for Change in Accounting Method, as indicated by the IRS in separate guidance. [Full Story](https://info.machen.cpa/blog/impact-of-new-tangible-property-regulations-on-the-real-estate-industry) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) [Previous](https://info.machen.cpa/blog/author/nick-wheeler-cpa/page/13) Search this site on Google Search Google ### Recent Posts ### Subscribe to Blog ### Posts by Category - [Business Tax (356)](https://info.machen.cpa/blog/topic/business-tax) - [Business Advisory (242)](https://info.machen.cpa/blog/topic/business-advisory) - [Payroll, HR & Benefits (124)](https://info.machen.cpa/blog/topic/payroll-hr-benefits) - [Audit & Assurance (113)](https://info.machen.cpa/blog/topic/audit-assurance) - [Accounting & Outsourcing (81)](https://info.machen.cpa/blog/topic/accounting-outsourcing) - [Individual Tax (75)](https://info.machen.cpa/blog/topic/individual-tax) - [Tax Planning (33)](https://info.machen.cpa/blog/topic/tax-planning) - [Tax Updates (25)](https://info.machen.cpa/blog/topic/tax-updates) - [Retirement & Wealth Management Planning (18)](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) - [Taxation (15)](https://info.machen.cpa/blog/topic/taxation) - [Alerts (13)](https://info.machen.cpa/blog/topic/alerts) - [Business Valuation (11)](https://info.machen.cpa/blog/topic/business-valuation) - [News & Events (11)](https://info.machen.cpa/blog/topic/news-events) - [Tax News (11)](https://info.machen.cpa/blog/topic/tax-news) - [Individual Tax Planning (10)](https://info.machen.cpa/blog/topic/individual-tax-planning) - [Not For Profit (10)](https://info.machen.cpa/blog/topic/not-for-profit) - [Retirement Planning (9)](https://info.machen.cpa/blog/topic/retirement-planning) - [Estate Planning (8)](https://info.machen.cpa/blog/topic/estate-planning) - [Manufacturing Industry Insights (7)](https://info.machen.cpa/blog/topic/manufacturing-industry-insights) - [Individuals (1)](https://info.machen.cpa/blog/topic/individuals) - [Insider (1)](https://info.machen.cpa/blog/topic/insider) - [Professional Standard News (1)](https://info.machen.cpa/blog/topic/professional-standard-news) see all [![Returning\_Value](https://info.machen.cpa/hs-fs/file-2504250850-jpg/Machen-Blog-Image/Returning_Value.jpg)](http://machenmcchesney.com/about-us/mission-and-values/) - [![AICPA](https://machenmcchesney.com/img/logos/aicpa.jpg)](https://www.aicpa-cima.com/) - [![NACVA](https://machenmcchesney.com/img/logos/nacva.jpg)](http://www.nacva.com/) - ![2026 INSIDE Public Accounting Top 400](https://machenmcchesney.com/img/2026-ipa-top-400.jpg) - ![2026 Best of Auburn-Opelika](https://machenmcchesney.com/img/2026-best-of-auburn-opelika.jpg) - [![2025 Best of OA](https://machenmcchesney.com/img/2025-best-of-oa.jpg)](https://oanow.com/exclusive/readerschoice/ballot-2025/) - ![2026 Best of OA Winner](https://machenmcchesney.com/img/2026-best-of-oa-winner.jpg) - [![2025 Accounting Today Regional Leaders](https://machenmcchesney.com/img/2025-accounting-today-regional-leaders.jpg)](https://www.accountingtoday.com/) - [![ClearlyRated Best of Accounting](https://machenmcchesney.com/img/2024-best-of-accounting.jpg)](https://www.clearlyrated.com/accounting) - [![ClearlyRated Best of Accounting Employee](https://machenmcchesney.com/img/2024-best-of-accounting-employee.jpg)](https://www.clearlyrated.com/accounting) 1820 East University Drive, Auburn, AL 36830 | Tel: (334) 887-7022 | Fax: (334) 887-7221 1761 Taliaferro Trail, Montgomery, AL 36117 | Tel: (334) 244-8900 | Fax: (334) 364-0927 † This is not a CPA firm. \* Assurance, attest, and audit services provided by Frazier & Deeter, LLC. “Frazier & Deeter” is the brand name under which Frazier & Deeter, LLC\* and Frazier & Deeter Advisory, LLC† and its subsidiary entities provide professional services. 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