What is bonus depreciation? It’s the opportunity to take accelerated depreciation and write off your asset purchase quicker than is usually allowed. And what’s with the bonus depreciation phase out 2023? You usually can’t write off the entire purchase cost in the first year when you purchase assets. Sometimes you can use Section 179 to […]
Category: Tax & Accounting News
Shared Economy Tax’s take on the latest tax & accounting news, and much more.
Inflation Reduction Act IRS Funding: Explained
The Inflation Reduction Act (IRA) was passed in August 2022 to lower inflation, lower prescription drug prices, and promote clean energy. Some provisions were immediately enacted, while others will be phased out over the next few years. The question on everyone’s mind is, “what’s up with the Inflation Reduction Act IRS Funding?” The short answer […]
Michael Tripp’s WSJ (Wall Street Journal) Feature
Summer is a time when many teens and students seek a part-time or full-time temporary job. The shared economy is full of opportunities, some of which even allow them to work from home. The shared economy, sometimes called the “gig” economy, is a lucrative opportunity. However, it’s important to know about a few changes […]
CEO Miguel Alexander Centeno Speaks to the Wall Street Journal
Certain parts of the American Rescue Plan passed by Congress in 2021 carry major consequences for freelancers and independent contractors. The Wall Street Journal sought out Shared Economy Tax CEO Miguel Centeno’s expertise for an article on the subject. Shared Economy Tax CEO Miguel Alexander Centeno Miguel Alexander Centeno, CEO and Managing Partner of Shared […]