Huth Thompson LLP

Posts by Cindy Bupp

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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1099 Due Date is Approaching

Just a reminder that the due date for filing most 1099 forms is almost here.  Any 1099-MISC forms with an entry in Box 7 for non-employee compensation need to BOTH be furnished to the recipient AND filed with IRS by January 31. These forms need to be completed for anyone your business paid any independent…

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