All Posts By

Anthony Fontana

tax-resolution

Is Alimony Tax Deductible?

By | Blog, Tax Tips

After 70 years of the same alimony tax rules, the Tax Cuts and Jobs Act (TCJA) brought in the end of an era. Under this law, alimony deduction was eliminated from the tax code beginning January 1, 2019 through 2025. If your divorce was finalized before 2019, the old rules…

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The Truth about Tax Extensions

By | Blog, Tax Tips

Filing for a tax extension can be a huge relief in many circumstances – they allow you an additional 6 months to file your tax return. The only problem with them is, some people are unaware of what they really do and do not do. This extension made to assist…

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Rental Tax Deduction

By | Tax Tips

Renting out a home can be a bit intimidating, at first thought. The cost of home repairs and the gamble of finding tenants can be stressful, but the benefits of income and tax deductions can make it all worth it.   Many rental property expenses can be deducted to offset…

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20% Qualified Business Income Tax Deduction

By | Blog

One of the most prominent tax deductions for this 2018 tax year is the 20% Qualified Business Income (QBI) tax deduction, also known as Sec 199A of the IRS tax code. Effective for tax years beginning after December 31, 2017 and before January 1, 2026 taxpayers that are not corporations…

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Tax Documents needed for Homeowners

By | Uncategorized

As a homeowner you will want to be sure maximize your tax deduction, here is a list of the documents you will need to prepare your tax return as a homeowner. 1. 1098-Mortgage Interest Statement 2. Real Estate Tax Receipts 3. DMV Registration Bill 4. Charitable contribution receipts. 5. W2s…

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