Article Highlights: Home Sale Exclusion 2 out of 5 Rule Business Use of the Home Gain or Loss from a Sale Previous Use as a Rental Records If you sold your home this year, or if you are thinking about selling it, you should be aware of the many tax-related issues that could apply [...]
Article Highlights: Tax Cuts and Jobs Act Heads To Reconciliation Tax Rates Medical Deductions Deduction For Taxes Home Mortgage Interest Tax on Business Pass-Through Income Alternative Minimum Tax (AMT) Business Expensing Repeal of ACA Health Insurance Mandate The Senate GOP finally brought their version of the Tax Cuts and Jobs Act out of committee and [...]
Every business must have a constant eye on growth. If your company is not growing, it is losing key opportunities and longevity. Yet, growth does not always come from increased sales. In many cases, it's important to take an inside look at how you are operating, what costs you have, and how you can better [...]
Article Highlights: IRA Contribution Limits Compensation Active Participation Traditional IRA AGI Phaseouts Nondeductible Contributions Spousal IRA Roth IRA Back Door Roth IRA Penalties Rollovers Conversions Required Minimum Distributions Blog: The individual retirement account (IRA) is one of the favored ways to save money for retirement. There are two types of IRAs: the traditional IRA [...]
Article Highlights: Taking Advantage of Tax Reform Itemized Deductions Taking Tax Advantage of Loser Stocks Maximize Education Credits Business Expensing So, why do we think tax planning is appropriate this year? Actually, with the prospect of major tax reform on the horizon, some strategies can be employed before the end of the year that can [...]
