December 9, 2011
Research Credit, 15 Year Writeoff for Specialized Realty Assets, Enhanced Charitable Contributions for C Corporations, 100% Bonus Depreciation, Section 179 Deduction decreases in 2012, and the 2% Reduction of Employee Share of FICA is set to expire on December 31st. If you have any questions regarding these please give me a call and we can discuss potential ways to utilize these deductions and credits before they decrease or expire.
Don’t forget to take advantage of your Flexible Spending Accounts before the end of the year. FSA’s are “use-it-or-lose-it” accounts. Don’t set aside more than what you’ll likely have in qualifying expenses for the year!