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  • Text: 479.462.4948

1611 S. Greenwood Avenue, Fort Smith, AR 72901

There are several tax breaks that would have ended 12/31/2016, but in early February, Congress extended the breaks.  A few of those are:

Private mortgage insurance (PMI)

$2 million exclusion of forgiven debt on a principal residence

The above the line deduction for up to $4,000 of college tuition.

The personal energy credit

Plus lots of breaks for renewable and emerging energy technology such as electric motorcycles, biodiesel and other alternative fuels.  The 30% credit for geothermal heat pumps and wind turbines applies through 2019.