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The IRS Attempts to “Capitalize”

During 2013 the IRS finalized new regulations that govern the decision regarding whether a cost may be expensed in the current tax year or must be capitalized and the depreciation rules then applied.  The overall concepts have not changed…

December 19, 2013
| Ketel Thorstenson, LLP

Affordable Care Act – Where are we now?

If you are confused as where you stand as an individual or employer when it comes to the Affordable Care Act (ACA) you have plenty of company. In an effort to ease some of your anxiety or perhaps clarify…

December 18, 2013
| Rex Vigoren

A Difficult Year for Ranchers

Farmers and ranchers have had another difficult year with concerns of continuing drought conditions and the devastation of the early blizzard over western South Dakota. In preparation for a shortage of grass some ranchers sold portions of their herd…

December 18, 2013
| Ketel Thorstenson, LLP

Life Events That Affect Your Tax Preparation

The 1040 form has become very comprehensive over time. Almost everything that happens in your life can have an effect on your tax return, from a new child, or getting married to a death in the family, major illness,…

December 18, 2013
| Ketel Thorstenson, LLP

Donor Acknowledgement

Individuals typically provide donations in the form of monetary or donated property.  These contributions benefit the charitable organization and also provide a tax deduction to the donor.  In order for this tax deduction to be allowed, the IRS has…

December 15, 2013
| Ketel Thorstenson, LLP

Form 1099 Requirements

FORM 1099 REQUIREMENTS: When Do You Need to File Form 1099? The following are the most common situations requiring filing of Form 1099: You paid more than $600 for services, rents, director fees, prizes, or awards to nonemployees…

December 10, 2013
| Ketel Thorstenson, LLP

The Affordable Care Act and Not For Profits

As a not for profit entity, you may be wondering how the Affordable Care Act (ACA) affects you and what you do. All aspects of the act still apply to you. What are some of the key…

September 10, 2013
| Jennifer Konvalin