Businesses that have invested in energy efficiency — or are considering doing so — shouldn’t overlook the Section 179D deduction for energy-efficient commercial buildings. This deduction was first added to the tax code in 2005 as a temporary incentive, but it has expired and been renewed several times over the years. Tax legislation enacted in late 2020 made the deduction permanent and provided for the maximum deduction amount to be adjusted for inflation in future years. This article details the deduction’s eligibility and qualifications and lists the specific improvements that can be deducted. A brief sidebar explores how a taxpayer can recover the deduction for a prior year.  

Some may live by the motto, “outta sight, outta mind.” However, it’s best not to apply that line of thinking when it comes to assets. This is particularly true when accounting for foreign assets in an estate plan. This article discusses the double taxation risk involved with foreign assets and examines the benefits of using multiple wills to account for these assets.

As the end of the year approaches, it’s a good time for individuals to review their financial situations and consider strategies for lowering their tax bills. This article examines year-end planning tips for mutual fund investors.

These brief tips explain how a person’s earnings can directly affect his or her Social Security benefits; detail how a business can use a reverse sales and use audit to its benefit; and explain why now may be a good time for homeowners to invest in a solar energy system.