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federal taxes Archive

Solar Home Improvements and Tax Deductions

TweetShareSharePin0 SharesSolar Home Improvements and Tax Deductions Going solar is all the rage these days with massive financial incentives fueling the fire. Here’s a little trick to write off an additional part of your solar system purchase. Financing Your Solar Improvements Improving your home with a solar panel system is financially advantageous these days. The

Deciding when to File a Tax Return?

TweetShareSharePin0 SharesDeciding when to File a Tax Return? April 15th – “The Day of Reckoning”! Every year, millions of Americans get ready to pay taxes to Uncle Sam, or get ready to collect a tax refund from Uncle Sam; when did this become the great day that it is for taxpayers, and when are we

What is a 1031 Exchange?

TweetShareSharePin0 SharesWhat is a 1031 Exchange? Many people who sell an investment property believe that federal capital gains from that sale must always be handed over to the IRS. This is not always the case. IRS Code Section 1031 offers investors the opportunity to reinvest federal capital gains from a sale if you swap that

Semiconductor Manufacturing | Semiconductor Tax Credit Proposal

TweetShareSharePin0 Shares A bipartisan group of Senators introduced the Facilitating American-Built Semiconductors (FABS) Act this week to create a permanent 25 percent investment tax credit for investments in semiconductor manufacturing equipment and construction of related facilities—but their proposal would not address underlying bias against investment that exists in the tax code today. Rather than provide

Spain Digital Services Tax | Spain Determined to Cash in on DST

TweetShareSharePin0 Shares Six months after the approval of the digital services tax (DST), the Spanish government has finally published regulatory guidelines to implement it. The first digital services tax draft bill was published by the Spanish Council of Ministers in October 2019; in October 2020 an identical draft was published and adopted. Although the digital services tax

Another Ruling, Another Rejection, And More Projections

TweetShareSharePin0 Shares The Affordable Care Act survives another US Supreme Court challenge. The High Court ruled yesterday that Congress did not invalidate the 2010 health insurance law when it repealed  the penalty/ tax on those without insurance. The Court said Republican-led states that sued did not have legal standing to bring the challenge.   Today’s

Four Dumbest S Corporation Setup Mistakes

TweetShareSharePin0 SharesFour Dumbest S Corporation Setup Mistakes I see and hear about a lot of dumb S corporation setup mistakes. Some of the mistakes are made by entrepreneurs and investors trying to save money on accountants and attorney fees. And I guess that’s okay–albeit penny-wise and pound-foolish. But you know what really irks me? Some
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