Vacation Homes Under Today's New Tax Rules - Part II Tax-Free Sale of Vacation Home In many cases, the profitable sale of a vacation home will result in tax-favored capital gain, although the gain will be subject to the 3.9% surtax on unearned income. However, some taxpayers may be able to sell their vacation homes [...] Continue Reading »

Vacation Homes Under Today’s New Tax Rules – Part I The tax treatment of a vacation home depends on the mix of personal and rental use.  If personal use of the home is extensive enough for it to be treated as used as a residence under Code Sec. 280A, deductions for the rental portion will [...] Continue Reading »

Year-End Moves to Make Light of Tax Reform Legislation Congress appears poised to enact a major tax reform law that could potentially make fundamental changes in the way you and your family calculate your federal income tax bill, and the amount of federal tax you will pay. This letter is designed to help you cope [...] Continue Reading »

A review of the tax angles clients should be aware of when they consider refinancing their home loans. With some experts predicting that home mortgage rates will rise, homeowners with adjustable-rate mortgages or higher-interest fixed rate mortgages obtained years ago may be motivated to refinance now. Others may find that refinancing a loan to renovate [...] Continue Reading »

There were a number of important tax developments in the first quarter of 2017. The following is a summary of important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. New guidance on how small businesses can use research credit to offset payroll [...] Continue Reading »

The IRS has announced an increase in the de minimis safe harbor limit to $2,500. As you may know, the IRS recently issued new complicated capitalization rules. With those new rules came a safe harbor election that allows taxpayers to deduct up to $500 per invoice line item. As an example, if you were to [...] Continue Reading »

Real Estate Tax Deprecation Recapture Wow!  The recently passed tax law just lowered the capital gain tax rate... great, uh?  Well yes, but not so fast!  We all know how important it is to understand how the tax law affects our real estate investments.  Understanding and forecasting the tax ramifications of rental property ownership is [...] Continue Reading »