Tax Warrior Chronicles

Top 5 Blogs of the 2019 Tax Season

Posted on Mon, Oct 28, 2019

By: Eric R. Elmore

 

The 2019 tax filing season has finally concluded, and not a moment too soon.  Americans filed the first full year of income under the Tax Cuts and Jobs Act of 2017 (“TCJA”), the most sweeping revamp of the tax code in more than 30 years. Today’s post is a snapshot of the blogs that were most read by our subscribers over the course of the filing season. It’s a good indication of what was on the minds of our readers while filing their returns. Did any of these play out in your tax planning?

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Tax Considerations of Converting Your Primary Residence into a Rental Property

Posted on Thu, Oct 18, 2018

By: Clare Porreca, CPA, MT

 

Converting a primary residence into a rental property is a common occurrence.  With the real estate market on a slight decline, more taxpayers may decide to rent rather than sell their homes to wait out the market.  If you’re in this situation, read on so you’re aware of the tax implications of converting your home into a rental property.

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Tax Reform Update: Interest on Home Equity Loans Often Still Deductible

Posted on Thu, Mar 01, 2018

By: Rosalind W. Sutch, CPA, MT

 

On February 21, 2018, the IRS released IR-2018-32 where it clarified that, in many cases, taxpayers can continue to deduct interest paid on home equity loans under the recently enacted Tax Cuts and Jobs Act (TCJA).  If you have or are contemplating taking out a home equity loan or line of credit, read on to see how you may be affected by TCJA.

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Are You in the Business of Flipping Houses?—Tax Court Answers This Real Estate Question

Posted on Thu, Dec 04, 2014

Issachar Ohana, et ux. V. Commissioner, TC Memo 2014- 83

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