title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Friday, January 12, 2007
 
Outdated Sec. 179 Info

 

Q:

Subject: Section 179 Expense election
 
I just read your outline on Section 179 Expense Election limits. Without consideration for any phase outs I understood that the limit for 2007 is $112,000 . My 2006 Master Tax Guide stated that the limit would fall back to $25,000 for 2007. Was this updated and changed as part of the 2006 tax bill? Thank you in advance for your reply.


A:

The fast changing nature of tax laws has been the number one reason I have never felt comfortable writing a book.  By the time it reaches the readers, many key provisions are already out of date, as was the case when you bought your copy of the Master Tax Guide.

You would be much better served by using a reference book that publishes periodic updates on the web to notify readers of changes in the printed version.  Both QuickFinders  and The TaxBook  do this.

Good luck.

Kerry Kerstetter

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- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 1/12/2007 12:52:00 PM Send this post:

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