Tax Breaks

/Tax Breaks

When an Elderly Parent Might Qualify as Your Adult Dependent

By |March 7th, 2017|

Are you supporting an elderly parent? You might qualify for the adult dependent exemption, which allows a deduction of up to $4,050 per adult dependent claimed on your 2016 tax return. Learn more about this exemption in our latest blog post.

The Investment Interest Expense Deduction: Less Beneficial Than You Might Think

By |January 24th, 2017|

The investment interest expense deduction may be less beneficial than you thought. Interest on debt used to buy assets held for investment, such as margin debt used to buy securities, generally is deductible for both regular tax and alternative minimum tax purposes. But interest you incurred to produce tax-exempt income, such as from municipal bonds, isn’t deductible. Learn more about this tax break in this blog post.

Should You Make a Charitable IRA Rollover in 2016?

By |July 26th, 2016|

A break for charitably inclined retirees is now permanent: If you’re age 70½ or older, you can make a direct contribution up to $100,000 annually from your traditional IRAs to qualified charities and satisfy your required minimum distributions (RMDs) without owing any income tax on the distributions. Learn more about charitable IRA rollovers in this blog post.

Congress Passes Tax Extenders Legislation Reviving Expired Tax Breaks for 2015

By |December 23rd, 2015|

The PATH Act of 2015 was signed into law by President Obama on December 18. This blog post explores how this tax extenders legislation can benefit you or your business with increased or extended tax breaks.

New Extenders Law Gives Individuals More Tax Breaks For 2015 And Beyond

By |December 22nd, 2015|

With year end right around the corner, Congress passed the PATH Act. The act extended numerous tax breaks that had expired December 31, 2014, and the President signed it into law December 18. The new law is more significant than some tax “extenders” legislation in recent years because, in addition to extending relief, the PATH Act makes quite a few tax breaks permanent and also enhances some tax breaks for 2015 and beyond. This article looks at some of the breaks that may help individuals save more tax.

2015 Tax Extenders Law Boosts Tax Benefits for Businesses

By |December 21st, 2015|

On December 18, President Obama signed into law the bipartisan PATH Act, a piece of 2015 tax extenders legislation. It makes many popular tax breaks — including some highly valued by businesses — permanent, while extending others through 2016 or 2019. This article takes a closer look at some of the provisions that may produce significant tax savings for businesses in 2015 and beyond.

2015 Tax Extenders (PATH Act) Update

By |December 18th, 2015|

The 2015 tax extenders legislation -- the PATH Act -- does more than just extend tax breaks On December 18, the Senate passed the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act), which the House had passed on December 17. Many popular tax breaks had expired December 31, 2014, so for them