News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Bill Bischoff / Wall Street Journal / February 6, 2013
Commentary: Congress extended and expanded several key deductions
Last month’s fiscal-cliff legislation included lots of tax provisions. Media attention has focused heavily on changes that affect individuals. But the new law also provides some valuable tax-saving breaks for businesses. Here’s the most important stuff to know for your outfit’s 2013 tax year.
Generous Depreciation Deductions for New and Used Assets
The Section 179 depreciation deduction privilege allows eligible businesses to deduct 100% of the cost of qualifying new and used assets in Year 1. For qualifyingRead More
David Crowe / NAHB / January 4, 2013
One of the threats to the continuing recovery in housing was the prospect of falling off the “fiscal cliff.” Had Congress failed to extend the expiring 2001 and 2003 tax rates, the economy may have fallen back into recession, according to the Congressional Budget Office. The resulting job losses would have reduced demand for both renter and owner-occupied housing, thereby halting the expansion of residential construction that contributed significantly to economic growth in 2012.Read More
Robert Dietz / NAHB / January 2, 2013
The fiscal cliff, an economically damaging set of tax hikes and spending reductions scheduled to begin in 2013, has been avoided (for now) and that is good news for housing in the short-run.
The enactment of H.R. 8, the American Taxpayer Relief Act of 2012, will extend permanently most, but not all, of the 2001/2003 tax cuts. The legislation prevents a fiscal drag of approximately $600 billion in 2013, which would have been large enough to push the current weak economy into recession. That in turn would have reduced demand for both owner-occupied and renter housing and threatenedRead More