Just a quick note—I know filing season is on. The administration’s greenbook proposals came out the other day, and among the host of proposals, a few that caught my eye for our alliantgroup partners was the good news on 179 expensing—proposing to increase it to $1 million (up from $500,000); expanding and making permanent 179D (energy efficient commercial buildings) and some nice improvements to the R&D Tax Credit that I detail in my most recent Forbes article. If you or your clients have questions about any of the administration’s greenbook proposals, feel free to give a shout.
While it’s pretty early to say whether Congress is going to engage in much serious tax legislation in a presidential election year, these three proposals certainly help set the table for discussions this year and down the road.
Lastly, like many of you, alliantgroup is very excited about the expansion of the R&D Tax Credit that was signed into law in December that will help startups and the AMT turnoff. Steve Miller and I look forward to meeting with Treasury and IRS officials to discuss the rollout of the startup provision (regulations, notices, forms) in the near future and welcome any thoughts, ideas or suggestions you may have as we go forward on startups.
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