by olacoste@fostermarketing.com | Jun 22, 2026 | For Your Information
Is Selling Your Home Considered Income? If you’re selling your primary residence this year, you should take a look at the following to determine whether you have to include it as income on your tax returns. Even if you make a profit from the sale of your home, you may...
by olacoste@fostermarketing.com | Jun 22, 2026 | For Your Information
Depreciation Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for the wear and tear, deterioration or obsolescence of the property. Most types of tangible property (except,...
by olacoste@fostermarketing.com | Jun 22, 2026 | For Your Information
Hurricane Preparedness With the early start of this year’s hurricane season, the our firm would like to encourage individuals and businesses to safeguard themselves against natural disasters by taking a few simple steps. Create a Backup Set of Records Electronically...
by olacoste@fostermarketing.com | Jun 22, 2026 | For Your Information
Mortgage Debt Forgiveness If your lender cancelled or forgave your mortgage debt, you generally have to pay tax on that amount. But there are exceptions to this rule for some homeowners who had mortgage debt forgiven in 2012. The following is a list of key facts...
by olacoste@fostermarketing.com | Jun 22, 2026 | For Your Information
Tax Credits for Students This tax season is a good time to see if you qualify for either of two college education tax credits or any of several other education-related tax benefits. In general, the American opportunity tax credit, lifetime learning credit and tuition...
by olacoste@fostermarketing.com | Jun 22, 2026 | For Your Information
The tax code provides a variety of tax incentives for families who are saving for, or already paying, higher education costs or are repaying student loans. You may be able to claim a Hope and Lifetime Learning Credit for the qualified tuition and related expenses of...
