by Pierre Philantrope | May 17, 2023 | Tax Tip
Taxpayers can save in tax by making certain energy efficient upgrades to their homes. The Inflation Reduction Act of 2022 expanded the credit amounts and types of qualifying expenses. Taxpayers can claim the Residential Clean Energy Credit and the ...
by Pierre Philantrope | Mar 29, 2023 | Tax Tip
Taxpayers could plan on how to apply the principal residence tax break of $250,000 for single taxpayers and $500,000 for married ones when getting married or divorced, or when converting another property into your home. In both marriage and divorce situations, a home...
by Pierre Philantrope | Mar 22, 2023 | Tax Tip
Lawsuit settlements are not all taxed similarly. Taxpayers may receive a substantial amount of money resulting from a lawsuit. There are some tax consequences of which you should be aware. The money you receive may be taxable and, in many cases, the attorney fees that...
by Pierre Philantrope | Mar 15, 2023 | Tax Tip
Taxpayers, in general, are in a partnership with the Internal Revenue Service. However, unlike in the case of traditional partnerships where two or more individuals mutually agree on the terms of the partnership, in this partnership with the IRS, the IRS sets the...
by Pierre Philantrope | Mar 1, 2023 | Tax Tip
In Pediatric Impressions Home Health, Inc. v. Commissioner (T.C. Memo. 2022-35), the Tax Court held, on April 12, 2022, that a corporation engaged in the business of providing at-home private duty nursing services to children with special needs misclassified...
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