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The Value Report - Machen McChesney Business Advisory Insights

At Machen McChesney we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.

Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization. 

Table of Contents

  1. IRS Significantly Increases Business Deductible for De Minimis Tangible Property
  2. 2015 Year-End Tax Planning for Individuals and Businesses
  3. 10 Smart Money Ideas for 2016
  4. FASB Flash Report - December 2015

IRS Significantly Increases Business Deductible for De Minimis Tangible Property

Computers_ID_72022.jpgOn November 24, 2015, the IRS issued Notice 2015-82, 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, 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. Continue reading.

2015 Year-End Tax Planning for Individuals and Businesses

As 2015 draws to a closethe time to consider tax-saving opportunities for you and/or your business is before year-end. Individual income taxes, whether paid through employer withholding or quarterly estimates, are probably one of your largest annual expenditures. You may want to consider opportunities to reduce or defer your annual tax obligation. Also, if you own a business, some opportunities for your business may apply regardless of whether your business is conducted as a sole proprietorship, partnership, limited liability company, S corporation, or regular corporation. Other opportunities may apply only to a particular type of business organization. These Tax Planning Letters are intended to assist you in your individual and business tax planning efforts. Continue reading.

10 Smart Money Ideas for 2016

Save_Money_image_ID_71545.jpgHow to achieve financial success

No one can predict with any great certainty the financial outlook for 2016, especially with the national elections looming in November. Nevertheless, here are 10 top money management moves that make sense for the rest of this year. Continue reading

FASB Flash Report - December 2015

iStock_000016832892_Large.jpgThe FASB recently issued ASU 2015-17 as part of its Simplification Initiative. The amendments eliminate the guidance in Topic 740, Income Taxes, that required an entity to separate deferred tax liabilities and assets between current and noncurrent amounts in a classified balance sheet. Rather, deferred taxes will be presented as noncurrent under the new standard. Early adoption is permitted, including for December 31, 2015 year-end financial statements. Continue reading.

We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future. 

Please feel free to visit our website or visit our blog at any time during the month to interact with additional valuable resources and helpful information.
If you have any questions on the topics above, please feel free to send us a message.
Machen McChesney
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