• The JHCO Tax Blog

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    Provisions Affecting Individuals ECONOMIC IMPACT PAYMENTSYou may have already received your second economic impact payment. The amount of the rebate is $600 per eligible family member. The credit is phased out at a rate of $5 per $100 of income over $150,000 for marrieds filing jointly and...
    Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important not to run afoul of the “wash sale” rule. IRS may disallow the loss   Under this rule, if you sell stock or securities for a loss and buy substantially identical stock or...
    As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you may benefit from the Section 179 depreciation tax deduction for business property. The election provides a tax windfall to...
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