TOP TAX LAW CHANGES FOR 2016
- PERMANENT EXTENSION OF STATE AND LOCAL “SALES” TAX DEDUCTION (LARGE PURCHASES LIKE VEHICLES)
- PERMANENT EXTENSION OF THE $250 EDUCATOR EXPENSE DEDUCTION (TEACHERS/PROFESSORS)
- TUITION AND FEES DEDUCTION EXTENDED FOR 2016 (SEND IN YOUR 1098-T’S)
- EXTENSION OF NONBUSINESS ENERGY CREDIT (EXAMPLES: ENERGY WINDOWS, ROOFS, ETC.)
- EXTENSION OF THE MORTGAGE INSURANCE PREMIUMS (1098’S)
- EXTENSION OF QUALIFIED PRINCIPAL RESIDENCE INDEBTEDNESS EXCLUSION (FORECLOSURES, ETC.)
- BUSINESSES: PERMANENT $500K SECTION 179; 15 YEAR LEASEHOLD IMPROVEMENTS RECOVERY; CREDIT FOR RESEARCH ACTIVITIES; EXTENSION OF BONUS DEPRECIATION THRU 2019; EXTENSION OF WORK OPPORTUNITY TAX CREDIT THRU 2019
