Is Homeowners Insurance Tax Deductible?

Your insurance premiums are not tax deductible except under special circumstances. You do receive other tax benefits as a homeowner, but they are not related to homeowners insurance. If you’re a landlord or a homeowner who uses part of your home for business purposes, you may be able to deduct a portion of your homeowners…

September 15 Tax Deadline Reminder:

September 15 Tax Deadline Reminder: Final deadline to file corporate tax returns for the year 2015 if an extension was requested. (Forms 1120, 1120A, 1120S). Final deadline to file trust income tax returns (Form 1041) for the year 2015 if an extension was requested. Final deadline to file partnership tax returns (Form 1065) for the…

The Cadillac Tax

 The Cadillac tax is a 40 percent excise tax on “high cost” health plans set in place by the Affordable Care Act. However, despite the familiarity tax professionals have with its name, the details surrounding the Cadillac tax can be complicated and confusing, according to Brad Knox, vice president of federal relations at Aflac. Read…