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Herbein + Company, Inc.

Tax on Keyboard

Herbein Blog

09 Oct
2013

Tax Provisions Expiring and Changing on December 31, 2013

Tax Provisions Expiring and Changing on December 31, 2013

“Out With the Old, In With the New”
Corey Robinson – Herbein + Company, Inc.

As 2013 comes to an end, there are important tax provisions that are currently in effect that will change or expire as of December 31, 2013.  It is important to be aware of these changes and to plan accordingly with your tax professional.  Credits and deductions used on your return this year may not be available next year.  Poor planning can result in paying higher taxes, which means less cash in your wallet.

Below are charts that highlight and summarize some important provisions that will be changing next year:

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*IRC Section Number Italicized Credit to Thomson Reuters/Practitioners Publishing Company

We also wanted our clients to be aware of the Research Credit 41(f) and (h)(1) that is set to expire for 2014. This credit was available in 2013 for the cost of increasing research activity.

For additional information please contact the author Corey S. Robinson at 610-378-1175 or csrobinson@herbein.com.

Corey-Robinson

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