Tax Credits

Latest Tax Credit Articles

• Can I defer passive activity loss to next year if earnings are too high?

  You can only deduct real estate losses to offset gains, but there are a couple of exceptions.

  2 min read Feb 16, 2016

  

• Cancellation of debt provides tax relief for homeowner’s short sale

  You have to meet certain conditions to get a break from the IRS on a short sale.

  2 min read Feb 09, 2016

  

• How do heirs calculate tax due on land conveyed via a ‘Lady Bird deed’?

  A ‘Lady Bird deed’ is a popular estate planning tool with tax and other advantages.

  3 min read Dec 08, 2015

  

• Figuring capital gains on sale of home deeded to children

  To figure your capital gain on the deeded home’s sale, you must consider these factors.

  2 min read Dec 01, 2015

  

• Will inherited IRA RMD impact my ability to get the Obamacare premium tax credit?

  The distributions you must take from the inherited IRAs likely won’t impact your tax credit.

  3 min read Oct 27, 2015

  

• Rules for claiming parents as dependents if they just arrived in the US

  You need to meet 5 requirements to claim your parents as dependents.

  2 min read Oct 20, 2015

  

• FSA saves money, cuts taxes

  Find out how one of the most popular tax benefits for families, an FSA, can help you.

  5 min read Sep 30, 2015

  

• Tax breaks dead until Congress revives them

  More than 50 tax provisions have expired. Will Congress renew them?

  3 min read Aug 26, 2015

  

• How do we report taxes on home confiscated via eminent domain?

  You can report your home’s sale when the deed transfers, and postpone reporting the gain.

  3 min read Aug 18, 2015

  

• Does a new roof count toward a tax credit on a solar energy system?

  Uncle Sam wants you to have an energy-efficient home and helps pay for certain costs.

  2 min read Aug 04, 2015