Popular tax breaks will be reinstated

Popular tax breaks will be reinstated

The House and Senate have overwhelmingly passed a Tax Extenders Bill, which retroactively extends tax breaks that had previously expired at the end of 2014.

These tax incentives benefit both individuals and businesses. The bill now goes to President Obama, who is expected to sign it into law.

The following are some of the popular tax breaks that were set to expire in 2013 but are back for 2014:

Personal tax incentives

  • Energy efficiency home improvements: This popular tax credit applies to energy efficient windows, doors, furnaces, and other common home improvements. The overall credit is limited to $500.

For more information, please visit BizTimes to read the entire article.

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