Go green: Save tax by saving energy at home

“Going green” at home — whether it’s your principal residence or a second home — can reduce your tax bill in addition to your energy bill, all while helping the environment, too. The catch is that, to reap all three benefits, you need to buy and install certain types of renewable energy equipment in the […]

Tax relief offered for employers affected by recent hurricanes

Many lives and businesses were disrupted this fall with several significant hurricanes that tore through the Southeast. In response, the IRS is giving those in areas impacted by the storms extra time to file tax returns. But employers are also given another hand up with a new federal tax credit for eligible employees who were […]

Georgia employers offered tax credit for hiring parolees

Employers in Georgia have an opportunity to take advantage of a temporary tax credit if they hire individuals who have recently been granted parole. According to the state law, O.C.G.A. Section 48-7-40.31, employers who hire qualified parolees in a full-time job for at least 40 weeks during a 12-month period are eligible for an income […]

Some tax breaks are set to expire after 2016

For over a decade, we have been faced with a long list of popular tax breaks with set expiration dates. In the past, Congress temporarily extended the majority of these tax breaks every few years. In December 2015, President Barack Obama signed the Protecting Americans From Tax Hikes Act Of 2015 (PATH Act), which removed […]

Teachers get a (tax) break

Historically, teachers have been allowed an “above the line” deduction (with an annual cap of $250) for various school supplies. However, starting in 2016, in addition to allowing teachers a deduction for school supplies, the PATH Act allows teachers to also deduct (subject to the overall annual cap of $250) amounts paid for certain professional […]