Also: Some federal tax credits ending in 2013
Created in 1986, the designation is meant to recognize “exceptional professionals who have reached the pinnacle of their careers,” according to an announcement. Ms. Sanford is one of 127 individuals that have been selected for the award to date, representing less than 2 percent of the company’s Personal Advisors Group.
While the convergence of tax increases and the expiration of tax credits once known as the “fiscal cliff” continues to fade into memory, a report by the Congressional Research Service reminds businesses and individuals that a number of provisions are still set to expire at the end of 2013.
Most of those provisions were included in prior extensions, including those from the American Taxpayer Relief Act. Those provisions extended for one or two years are typically known as “extenders” in Congress, and extending all provisions scheduled to expire between 2014 and 2023 would cost an estimated $938.3 billion.
Expiring provisions involving business include the long-running tax credit for research and experimentation and the work opportunity tax credit, along with bonus depreciation and the Section 179 deduction for new and used capital equipment. A number of other provisions tailored for certain kinds of businesses are also set to expire, including some tailored for business on Indian reservations.
Individuals will see provisions expire as well, including the deduction for classroom expenses by schoolteachers, a deduction for mortgage insurance premiums and a deduction for tuition and related expenses.
H&R Block has completed construction of a new branch in the city of Vallejo, located at 1801 Broadway St. The company was issued a final certificate of occupancy on Aug. 20, according to the city manager’s regular bi-weekly report.
Submit items for this column to Business Journal Staff Writer Eric Gneckow at 707-521-4259 or email@example.com.
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