Salvage Write-Offs on Home Equity Loans Deduct mortgage interest for home improvements Are you planning to take out a home equity loan to pay for home improvements? Unfortunately, the Tax Cuts and Jobs Act (TCJA) cracks down on mortgage interest deductions for home equity loans, among other changes. However, if you play your cards right, […]
Newsletters
EES Newsletter – July 2019
Three Safe Harbors for Business Repairs Tax differences from improvements Do you need to make repairs to your business premises or equipment? It can make a big tax difference if the work is characterized as a “repair” or an “improvement.” In brief, a repair is currently deductible by your business, while the cost of an […]
EES Newsletter – May 2019
Two Top Tax Breaks for Your Business Combine Section 179 and bonus depreciation If you need to purchase equipment for your small business this year, you may be in for a treat. Generally, you can qualify for sizeable current deductions, instead of recouping the costs through depreciation deductions over an extended period of time. Furthermore, […]
EES Newsletter – June 2019
Seven Smart Mid-Year Tax Moves Ideas for individuals and businesses Believe it or not, we have almost reached the mid-point of 2019. Don’t wait until the end of the year to implement tax-saving strategies for your family and small business. Here are seven tax-saving opportunities during the summer months. Harvest capital gains or losses. The […]