There is a unique tax break for business entities of all shapes and sizes contained in Section 179 of the Internal Revenue Code. Under this section, a business can elect to “expense,” or currently deduct, the cost of qualified property placed in service during the year, up to a maximum level. It is near-instant tax gratification.
The mere thought of the CPA exam can be stressful, and now to shake things up even further, the exam is going through a metamorphism in 2017. A metamorphism that is said to make the exam more difficult and will test candidates at a higher level of knowledge. The changes in the exam stem from the thought that as the business environment changes so does the work that newly licensed CPAs perform. Gone are the days of solely remembering and understanding information, CPAs need to analyze information, be able to think critically, and problem solve in their day-to-day jobs.
"The purpose of Life is to be Useful, Honorable, and Compassionate; and to have it make some difference that you have lived and lived Well."
- Ralph Waldo Emerson