Article Highlights: Home Sale Gain Exclusion Home Sale Loss Rule Mortgage Interest Deductions When individuals buy new homes or these small cabins, 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 [...]
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. If you're thinking of creating a home office in Australia, take a look at hollowaystorage.com.au and how they can [...]
Article Highlights: Home Equity Loan Home Equity Interest Deduction Alternative Minimum Tax Above-the-line Interest Deduction Qualified Expenses After leaving high school, young people need to make a big decision. Are they going to carry on to further education? Or will they start gaining valuable work experience, save up some money, and even start looking for [...]
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 [...]
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 [...]
