Article Highlights: Mortgage Insurance Premiums Above-the-Line Education Expenses Exclusion of Home Cancellation of Debt Income Credit for Nonbusiness Energy Property Credit for New Qualified Fuel Cell Motor Vehicles Credit for Alternative Fuel Vehicle Refueling Property Credit for 2-Wheeled Plug-In Electric Vehicles Credit for Energy-Efficient New Homes Race Horses as 3-Year Property Energy Efficient Commercial Buildings [...]
Article Highlights: Seriously Delinquent Tax Debt Exceptions Passport Denial or Revocation A lot of people get into tax debt at some point in their lives. While it's unfortunate, the majority of people who find themselves in debt work hard to repay it in a quick amount of time. If you're currently in tax debt then [...]
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Article Highlights: Sec 199A Deduction Qualified Business Income Threshold Specified Service Businesses Limitations Wage Limit Aggregating Amounts Note: The is one of a series of articles explaining how the various tax changes in the GOP's Tax Cuts & Jobs Act (referred to as "the Act" in this article), which passed in late December of 2017, [...]
Article Highlights: Tax Trap Traditional IRA Roth IRA Traditional to Roth Conversions Undoing a Conversion Note: The is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs Act (referred to as the “Act” in the article), passed late in December 2017, might affect [...]
Congratulations! You've decided to dive into the exciting world of entrepreneurship and bring that great business idea to life. Whether you're opening a local brick-and-mortar business that your community needs, looking to grow rapidly in the next few years and get an investor, or just keep things small and solo, certain steps come next that [...]
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 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 and the [...]
