Highlights of the Protecting Americans from Tax Hikes Act of 2015

With just a couple of weeks before year end, Congress passed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The legislation deals with more than 50 tax provisions that expired December 31, 2014.  Some provisions were extended, while others were made permanent.  I want to discuss some of the more popular provisions.[…]

Miscellaneous Itemized Deductions

If you are able to itemize your deductions, that is, if your mortgage interest, charitable donations, real estate taxes and the like exceed the standard deduction, you may be able to take advantage of certain other expenses that are allowed as miscellaneous itemized deductions.  These expenses are subject to a reduction of 2% of your[…]