Electric Car

Congress Green-Lights Some Alternative Vehicle Credits

Article Highlights: Hybrid Credit (Expired) Four-Wheeled Plug-In Electric Drive Vehicle Credit Qualified Fuel Cell Motor Vehicle Credit Two-Wheeled Plug-In Electric Vehicle (Motorcycle) Credit Alternative Fuel Vehicle Refueling Property Credit Refund Opportunity On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which includes a number of tax law changes, including extending […]

Family Adoption

Childbirth and Adoption Penalty Exception Added

Article Highlights: When a Distribution Is Subject to a Penalty Amount of the Penalty Birth and Adoption Penalty Exception Medical Expenses Penalty Exception Unemployed – Medical Insurance Exception On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including retroactively extending certain tax […]

Medical Deduction

Congress Allowing Higher Medical Deductions for 2019 and 2020

Article Highlight: Appropriations Act of 2020 Medical AGI Limitations Sometimes Overlooked Deductions Deductible Health Insurance Above-the-Line Health Insurance Deduction for Self-Employed On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including extending certain tax provisions that expired after 2017 or were about […]

401-K

Employer’s Pension Startup Credit Substantially Increased

Article Highlights: Eligible Plans Eligible Expenses Qualification Rules Credit Amount On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including retroactively extending certain tax provisions that expired after 2017 or were about to expire, a number of retirement and IRA plan modifications, […]