Episode 60: Bonus Depreciation Phase Out

In this episode we discuss: The IRS has hired 5,000 service operators.  Find out how it may impact tax season. Form 1099K reporting requirements (for businesses that use 3rd party payment vendors such as Venmo and Paypal) for 2023.   One-time charitable giving is allowed from IRAs for those under 59.5 years old without penalty for qualified circumstances.  Bonus Depreciation starts to drop this year, falling to 80%.  Find out what you should do to prepare. Depreciation caps on business vehicles has increased.  Form 1099s may now be filed directly on IRS.gov.  We also hear from Bobbi Jo Webber, of Webber Family Farms.  She gives an insider's look at what it takes to run a large agribusiness operation, what it really means to have organic chickens, and how she strives to educate the public for a better understanding of where their food comes from.  For great videos and updates, follow the "Follow the Field" and "Follow the Flock" series on their facebook page at Webber Family Farms.