There May Be More Equity Debt than Meets the Eye
For both regular tax and AMT computations, interest paid on a debt to acquire or substantially improve a first or second home is deductib...
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The Tax Professionals Blog · 446 articles
Dealing With Incentive Stock Option AMT
There are two types of stock options: qualified and non-qualified. Qualified options are also referred to as incentive stock options (ISO...
Read moreHome Title Change: A Completed Gift?
Background: A frequently encountered issue is when an elderly parent turns the title of his or her home over to a child or other benefici...
Read moreAre Specialty Medical Devices and Supplies Deductible?
Medical expenses are defined as the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatmen...
Read moreItemizing Deductions: Capitalizing Property Taxes
When itemizing deductions, a taxpayer is allowed to deduct a variety of taxes, including real or personal property taxes and state income...
Read moreWaiving the Required Retirement Minimum Distribution Penalty
The penalty, called the excess accumulation penalty, for failing to take the required minimum distribution from IRAs and qualified plans ...
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