Fortunately for boat lovers, tax reform did not destroy all the benefits of boat ownership. Sure the love of the ocean breeze, inter-coastal sightseeing, fishing and water skiing on the lake are enough to bind a captain to his beloved vessel, but tax breaks make owning a boat a lot easier on the pocket book....
The government is still encouraging investment in solar energy and other alternative energy sources. As an incentive, the Internal Revenue Code offers a credit to taxpayers who install solar energy equipment in the form of a 30% credit for the costs of the solar panels and related equipment and material installed to generate electricity. It...
Fall is a great time to seel your home, and if you’re planning to put your home on the market soon, you’re probably worrying about if it makes sense to give it a new coat of paint, or clean out the garage and basement. You are also probably worrying about how long it will take...
The Head of Household status is considered to be the most advantageous filing status because taxpayers who qualify get a higher standard deduction and wider tax brackets compared to the single filing status. The Head of Household standard deduction will be $18,350 for tax year 2019 compared to single taxpayers and married individuals filing separately,...
Recently separated or divorced from your spouse? Considering a break-up? Here are some important tax rules to keep in mind: 1. You’re still considered married by the IRS if your divorce is not yet final as of December 31, even if you or your spouse filed for divorce earlier in the year. 2. If the...
