Monthly Archives: July 2017

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Are You Considering Converting Your Home Into A Rental?

Article Highlights: Home Sale Gain Exclusion Home Sale Loss Rule Mortgage Interest Deductions  When individuals buy new homes, they often consider turning their old homes into rentals rather than selling them. All too often, that decision is made without considering the tax implications. Converting a former residence into a rental may also happen when two [...]

By | 2017-07-21T22:48:24+00:00 July 21st, 2017|Categories: Uncategorized|0 Comments

Can You Deduct a Home Office, and Is It Worth It?

Article Highlights: Qualifications Employee Issues Method Options Income Limitations Relocation “Home office” is a term used to describe the tax deduction for the business use of your home, which may or may not be an office. It is often misunderstood and claimed by those who don’t qualify for it or not claimed to the taxpayer’s [...]

By | 2017-07-17T23:38:36+00:00 July 17th, 2017|Categories: Uncategorized|0 Comments

Borrowing Money to Finance an Education?

Article Highlights: Home Equity Loan Home Equity Interest Deduction Alternative Minimum Tax Above-the-line Interest Deduction Qualified Expenses If you are considering borrowing funds to finance your education or the education of your spouse or children, you may wish to take advantage of the available tax benefits. If you itemize your deductions and have sufficient equity [...]

By | 2017-07-13T23:39:35+00:00 July 13th, 2017|Categories: Uncategorized|0 Comments

Is Solar Energy Right for You?

Article Highlights:  Solar Electric System TV Ads Do You Really Need One? System Cost Financing Solar Tax Credit Home Mortgage Interest It seems like you can’t watch TV these days without being exposed to home solar ads touting free electricity and big tax credits. Be careful, as these savings and tax credits may not be [...]

By | 2017-07-05T15:59:47+00:00 July 5th, 2017|Categories: Uncategorized|0 Comments

Thinking of Tapping Your Retirement Savings? Read This First

Article Highlights: Early-Withdrawal Penalties Reduction in Retirement Savings Exceptions from the Early-Withdrawal Penalty If you are looking for cash for a specific purpose, your retirement savings may be a tempting source. However, if you are under age 59½ and plan to withdraw money from a traditional IRA or qualified retirement account, you will likely pay [...]

By | 2017-07-03T16:30:49+00:00 July 3rd, 2017|Categories: Uncategorized|0 Comments