Archive | Tax Reporting


Thinking About Selling Your Vacation Home? The Time To Start Planning is NOW!

There are two types of real estate that can be sold with advantageous tax treatment, your primary residence and your business/investment property. Favorable treatment exists for the sale of a personal residence if the property has been the primary residence of the taxpayer for two of the preceding five years. Section 121 of the Internal […]

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home office

The Home Office Deduction – Past and Future

The Internal Revenue Service recently released Revenue Procedure 2013-13 that provides a new safe harbor for home office deductions.  This has the potential to make your calculations streamlined where it is difficult to determine a fair value deduction. Generally speaking, Section 280A disallows any deduction for personal expenses associated with the taxpayer’s residence unless a […]

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