With the ever-increasing cost of health insurance and medical care, you should be vigilant in finding ways to claim tax breaks related to health care. Unfortunately, that’s now harder than before because a change included in the Affordable Care Act (ACA) increased the income-based threshold for deducting itemized medical expenses. However, some seniors have been […]

The federal income tax rules on qualified residence interest have been around for many years, but there’s always a steady flow of disagreements between the IRS and taxpayers on these rules. Here are some background materials and recent developments on qualified residence interest that may affect you. Rules in a Nutshell Unlike most other types […]