The extending of the extenders. Last year Congress extended certain tax breaks for one year and here we go again. Some of them are important for the real estate industry. Items such as the deduction of the mortgage insurance as qualified interest, state and local sales tax, expenses of teachers up to $250, the section 179 depreciation limits etc etc.
We only have 10 legislative days left in the year and there has been nary a peep about the extension of these tax breaks.
Will Congress act on these before year end, will they expire, or will they expire only to be retroactively deductible . Believe me with the government shutdown the IRS is already pushing back the date to file returns and this retroactive stuff just drives them and related software companies crazy.
Bill Zumwalt
Helping REALTORS with Tax Solutions and Solving Tax Problems for REALTORS
REALTOR Tax Preparation, REALTOR Tax Accountant, Tax Preparation Tulsa, OK
Accountant Tulsa, OK, CPA Tulsa, OK, Tax Prep Tulsa, OK, Tax Savings Tulsa, OK, Tax Accountant Tulsa, OK
The Tax Coach for REALTORS
William T Zumwalt CPA,CTC, PLLC
5416 South Yale Ave
Suite 120
Tulsa, OK 74135
918-583-1040
855-993-3339
Bill@TeamZumwalt.com
www.TeamZumwalt.com
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