Federal and State Energy Credits
As climate change has become more of a political issue, the federal and state governments are actively incentivizing taxpayers to “go green”. The Inflation Reduction Act recently passed by Congress made significant changes to the credits already offered by the...
Like-kind Exchanges – IRC Section 1031
A 1031 exchange, named after section 1031 of the U.S. Internal Revenue Code, is a way to postpone capital gains tax on the sale of a business or investment property by using the proceeds to buy a similar property. It is also sometimes referred to as a “like-kind”...
Big, Big News from the IRS on August 24
In an effort to free up resources to address a huge backlog of returns to process and other pending issues, the IRS announced major relief for most taxpayers with certain failure to file penalties and International Information return penalties for tax returns for the...
Roth IRA Conversion
During the pandemic, the value of many traditional IRAs dropped with the decline in the stock markets, so it may be time to consider a Roth IRA conversion. Lower income in the conversion year could also be a factor in this decision, since the conversion amount could...
