With homes prices soaring in this red-hot real estate market there are always tax implications to keep in mind. Now more than ever homeowners need to be familiar IRS rules and how they will impact the tax they may owe.
Last year’s sweeping tax overhaul, the Tax Cuts and Jobs Act of 2017 (TCJA), introduced a new tax break for owners of many pass-through businesses. Individuals who are sole proprietors, partners in partnerships, members in LLCs taxed as partnerships (hereafter, “partners”), or shareholders in S corporations, may be able eligible to claim a deduction for …
In the past 15 months, congress passed five bills that have substantive and significant tax provisions: The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015. The Bipartisan Budget Act of 2015. The Fixing America’s Surface Transportation Act (“FAST Act”). The Consolidate Appropriations Act of 2015 (“PATH Act”), including the Protecting Americans From …
