Huth Thompson LLP

Archive for June 2019

LLCs Electing S Corporation Status

Limited Liability Companies (LLCs) are a popular choice of business entity among small business owners. This is because a multi-member LLC combines the limited liability of a corporation with the tax flexibility of a partnership. There may be times, however, when LLC members choose to make an S Corporation election. Before that happens, it is…

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New Indiana Depreciation Rules

On May 5, 2019, Governor Holcomb signed into law Senate Enrolled Act #565 updating numerous tax provisions including updates to both Section 179 and bonus depreciation when property is acquired in a trade.  We now have two separate Section 179 limitations. The Section 179 limit for property acquired in a trade is generally limited to…

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