Archive

27Jul2017

Is Solar Energy Right for You?

    Article Highlights: Solar Electric System TV Ads Do You Really Need One? System Cost Financing Solar Tax Credit Home Mortgage Interest It seems like you can’t watch TV these days without being exposed to home solar ads touting free electricity and big tax credits. Be careful, as these savings and tax credits may

24Jul2017

Hobby or Business?

Article Highlights: For-Profit Businesses Not-for-Profit Businesses Nine Determining Factors Profit Presumption Taxpayers are often confused by the differences in tax treatment between businesses that are entered into for profit and those that are not, commonly referred to as hobbies. The differences are: Businesses Entered Into for Profit – For businesses entered into for profit, the

18Jul2017

Thinking about Converting Your Home Into a Rental?

    Article Highlights: Home Sale Gain Exclusion Home Sale Loss Rule Mortgage Interest Deductions When individuals buy new homes, they often consider turning their old homes into rentals rather than selling them. All too often, that decision is made without considering the tax implications. Converting a former residence into a rental may also happen

06Jul2017

Borrowing Money to Finance an Education?

Article Highlights: Home Equity Loan Home Equity Interest Deduction Alternative Minimum Tax Above-the-line Interest Deduction Qualified Expenses If you are considering borrowing funds to finance your education or the education of your spouse or children, you may wish to take advantage of the available tax benefits. If you itemize your deductions and have sufficient equity