BLS Insights

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Month: December 2014

Tax Issues Related to the Personal Residence

December 29, 2014

When we think about our personal residence, we probably do not give much thought to the tax impact associated with it. If we do think about the tax aspect, our focus probably is on the savings related to the mortgage interest and real estate tax deductions.

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Tax Extenders Passed by Congress

December 23, 2014

The President signed legislation passed by Congress which retroactively extends from January 1, 2014 many individual and business tax provisions which otherwise expired at the end of 2013.

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One 60-Day IRA Rollover Per Year Is The Final Answer

December 18, 2014

Although the Internal Revenue Code trumps IRS Publications, practitioners tend to use the Publications as the initial resource when handling day-to-day tax issues.

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License Renewal Reminder!

December 15, 2014

The Delaware Division of Revenue (DOR) is reminding businesses that Delaware business licenses expire at the end of December and must be renewed by December 31, 2014 .

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Residency vs. Domicile

December 04, 2014

“Place of residency” and “place of domicile” may appear to mean the same thing, but may have different definitions at tax time. The definitions are similar if you have lived in the same place for many years, but if you recently moved to or maintain a second home in a different state, the two terms may be very different.

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