Be aware of the tax consequences before selling your home
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. Home sale gain exclusion […]
IRS unveils new tool to search for charitable organizations
Are you looking for a worthy local charity or want to make sure your favorite nonprofit is in good standing? The IRS has published a new search tool that is designed to provide easier access to information on tax-exempt organizations. The new Tax Exempt Organization Search (TEOS) replaces the EO Select Check. The new tool […]
Families with college students may save tax on their 2017 returns with one of these breaks
Whether you had a child in college (or graduate school) last year or were a student yourself, you may be eligible for some valuable tax breaks on your 2017 return. One such break that had expired Dec. 31, 2016, was just extended under the recently passed Bipartisan Budget Act of 2018: the tuition and fees […]
Let the sun shine in on this tax credit
If you are considering upgrades to your home, you may want to consider installing renewable energy systems. They are not only more efficient, which will help you save on energy bills, but they could be worth a significant tax credit as well. The federal government is offering a 30-percent personal income tax credit – called […]
Senate takes up tax reform, healthcare legislation
Two issues that will significantly impact every individual and business owner are beginning to gather steam in Congress: tax reform and healthcare legislation. Healthcare As reported by Reuters, Senate Majority Leader Mitch McConnell (R-KY) plans before the end of the month to bring up for a vote in the Senate the Graham-Cassidy-Heller-Johnson bill, which would […]