Section 179D Deduction for LED Lighting
While the root of Section 179 and Section 179D in the tax card are very similar, they are different provisions of the tax code and have different definitions for qualifying property.
Can An Integrated HRA Plan Reimburse Deductibles?
One of my C Corporation clients is purchasing group health insurance. Could an HRA be integrated with the plan to reimburse the employees for a high deductible? I presume yes as long as the minimum value required method is used. Also, I presume it’s tax-free to the employee and deductible to the employer? I couldn’t find anything in 2013-54 that states otherwise. Can An Integrated HRA Plan Reimburse Deductibles?
Can A Spouse Claim Self-Employed Health Insurance?
This subject relates to the self-employed health insurance deduction as per IRC 162(l). What arrangement needs to be sought to entitle both taxpayers health insurance deducted on Form 1040, page 1?
Are Employer Gifts To Family Members Taxable?
Our client received a 1099-MISC form with Box 3 (other income) completed from their deceased son’s employer in the amount of $11,000 as a “gift” to cover for funeral expenses. Is this considered IRD? Are employer gifts to family members taxable? Do we show this amount on line 21 as other income, and back it out on the same line? Attach a statement?
Is Margin Interest Expense From A Home Deductible?
A client from Trenton, New Jersey wants to build a primary residence on vacant land and finance it by borrowing against her stock brokerage account. Is the margin interest expense paid from using borrowings against her investment account deductible? I’m thinking not, since it’s secured by investment funds.