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Sunday May 12, 2024
Family Business Bailouts
Joe and June started Children's Clothing Company 30 years ago. They are now both age 65 and are interested in retiring. Their daughter Susan is currently the company president and their son Michael is the vice president of marketing. They have two other children, Spencer and Ellen, and both of them have decided to pursue other careers.
Children's Clothing Company is a C corporation. It has both voting stock and non-voting stock. There are 1,000 shares of voting stock and 20,000 shares of nonvoting stock. All of the shares are currently owned...
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Home Energy Improvements in 2024
In IR-2024-137 the Internal Revenue Service (IRS) encouraged taxpayers to make updates to their home to qualify for home energy credits. The credits were significantly expanded by the Inflation Reduction Act of 2022.
Most of the credits apply to homeowners, but renters may also be eligible for some credits. The credits are generally in two main categories. There are credits for energy-efficient improvements to your home after January 1, 2023. Other credits apply to improvements such as solar panels, wind turbines or battery storage.
Home Energy Improvements — Qualified home improvements made after January 1, 2023, may produce a 30% credit, with a maximum amount of $3,200. These improvements include qualified...
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Finding Affordable Internet Services
The Affordable Connectivity Program, which subsidizes my monthly internet bill, is about to end. What are my options for finding affordable home internet services?
Without additional funding from...
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