Reduce your property taxes

Reduce your property taxes

With the passage of the Tax Cuts and Jobs Act, deductions of state, local and property taxes are not worth as much as they used to be. Beginning in 2018, taxpayers are limited to a total of $10,000 in combined state income, sales and property taxes as an itemized...
Looking ahead: Tax reform in 2018

Looking ahead: Tax reform in 2018

Congress has passed tax reform that will take effect in 2018, ushering in some of the most significant tax changes in three decades. Here are some of the most significant items in the new bill that impact individual taxpayers. Reduction of income tax brackets. The...
Common rental income mistakes

Common rental income mistakes

If you own rental property there are a number of mistakes you should avoid. Here are some major ones: Forgetting the 14-day rule. As long as you rent out your property for a period of 14 days or less per year, you do not have to report rental income or otherwise treat...