2014 Episode 9 - December 27, 2014

This is the last week to $pend business money! Remember the purchse must be completed and the item in use before midnight on 12/31 to count as an expense in 2014. Gilbert also explains mileage deductions and standard mileage rates. (Though average gas prices are under $2/gal, it probably won't affect the mileage rates this tax season.) He also discusses the ACA and 1095A. If you did not have health insurance this year, you will pay a fee. Today's other topics include sect 529, gift taxes, and Sales & Use Tax.