In “Tax Season Kicks Off” (Jan. 10, page 32), the section on “Business Relief” misstated the amount of new or used tangible personal property placed in service during the tax year that was eligible for expensing under section 179 in 2008. The correct amount is $250,000, the same as in tax year 2009. The JofA regrets the error.
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The technology assessment engagementAre you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.
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Maximizing the higher education tax creditsA counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.