The operation and interaction of the child tax credit with other personal credits

Article Abstract:

The child tax credit has proved to be more complex than originally thought upon its enactment in the Taxpayer Relief Act of 1997 due to its interaction with other Tax Code provisions. The credit interacts with the alternative minimum tax, and tax credits such as the earned income, dependent care, and adoption credits in such a way as to require tax planning and additional tax return administration time. The intended tax benefit to lower-income taxpayers is reduced by the likely need to employ professional tax preparers or purchase tax software.

Tax credits, Child care tax credits

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Recent developments in the taxation of residential real estate

Article Abstract:

Real estate taxation cases and regulatory developments in 1995-1996 focused on tax-free rollover provisions, rental property management and estate tax treatment of spousal real property holdings. The tax treatment of rental property expenses will depend on the scope of taxpayer use of the property and whether the vacation home rules or passive activity rules apply. A series of cases interpreted limitations on the replacement period for tax-free rollovers or real property.

Real Estate, Real Estate and Rental and Leasing, Real property exchanges, Taxation, Real estate investment, Real estate investments, Rental housing, Passive activity (Taxation)

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Individual income tax planning with a FLP/LLC

Article Abstract:

The feasibility of using family limited partnerships and limited liability companies, for income tax planning, is discussed.

Management dynamics, Methods, Management, Usage, Tax planning, Limited liability companies, Estate tax, Estate taxes, Company business management, Family limited partnerships

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