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The site’s homepage features an uncluttered design and our newly designed logo. We wanted to make the new website faster, easier to navigate, and more user-friendly.   As a leader, it’s important for us to make information regarding tax and legal issues, estate planning and business trends easily accessible for our current and prospective clients. We endeavor to provide our clients with the most accurate, up-to-date information and share our knowledge and expertise. Our new site features an entire section, … Continued

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Permanent Extension of Section 179 Expensing and Modification of Amounts Eligible for Expensing One of the biggest wins for businesses is the permanent extension of the small business Code Sec. 179 expensing limitation and phase-out amounts in effect from 2010 to 2014 of $500,000 and $2 million, respectively. Both the $500,000 and $2 million limits are indexed for inflation beginning in 2016. For 2015, the limitation and phase-out amounts were slated to be $25,000 and $200,000, respectively. The special rules … Continued

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Taxpayer Who Didn’t Meet Common-Law-Marriage Test Had to Use Single Filing Status While a taxpayer satisfied four of the five elements of Oklahoma’s common-law-marriage test, there was no evidence that he and his live-in girlfriend held themselves out as married in any formal settings and, thus, his filing status was single. The taxpayer was, however, entitled to a dependency exemption deduction for his girlfriend; but no dependency exemption deductions or child tax credits were allowed for the girlfriend’s daughter and … Continued