US EditionTax Surprises to Watch Out For
Summary by RRBB Accountants and Advisors in Somerset and Maplewood, New Jersey
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Tax Surprises to Watch Out For
Our tax code contains plenty of opportunities to cut your taxes. There are also plenty of places in the tax code that could create some surprises in your tax bill. Here are some of the more common traps. Home office tax surprises If you deduct home office expenses on your tax return, you could end up with a tax bill when you sell your home in the future. When you sell a house you’ve been living in for at least two of the past five years, you may…
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