{"id":2620,"date":"2016-01-07T10:01:00","date_gmt":"2016-01-07T15:01:00","guid":{"rendered":"http:\/\/hoorfarlaw.com\/blog\/?p=2620"},"modified":"2016-01-07T10:01:00","modified_gmt":"2016-01-07T15:01:00","slug":"tax-benefits-that-have-been-extended-for-2015","status":"publish","type":"post","link":"https:\/\/hoorfarlaw.com\/blog\/?p=2620","title":{"rendered":"Tax Benefits that have been Extended for 2015"},"content":{"rendered":"

\"tax<\/a><\/p>\n

On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act (PATH Act). The new law extends the following tax benefits:<\/p>\n

    \n
  1. Additional Child Tax Credit – The income threshold limit was changed from $10,000, indexed for inflation, to an unindexed $3,000.<\/li>\n
  2. American Opportunity Tax Credit (Hope Credit) – Allows for up to $2,500 in credits for up to four (4) years of college expenses.<\/li>\n
  3. Educator Expenses – Allows up to $250, indexed for inflation, to be deducted by elementary and secondary school teachers.<\/li>\n
  4. State and Local Sales Tax – Now a permanent deduction.<\/li>\n
  5. Charitable Contribution by an IRA – Allows a distribution from an IRA to a charity to be tax free.<\/li>\n
  6. Section 179 Deduction – The $500,000 limit was made permanent.<\/li>\n
  7. Discharge of Principal Residence Indebtedness – This exclusion was made permanent.<\/li>\n
  8. Tuition and Fees deduction – Extended to 2016.<\/li>\n
  9. Deduction for Mortgage Insurance Premiums – Extended to 2016.\u00a0If you are having taxing problems and need help, contact our law office at 816-524-4949 or visit our website at www.Hoorfarlaw.com<\/a>.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act (PATH Act). The new law extends the following tax benefits: Additional Child Tax Credit – The income threshold limit was changed from $10,000, indexed … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[612,267,776,348,693,732,241,131,718],"class_list":["post-2620","post","type-post","status-publish","format-standard","hentry","category-general","tag-2015-taxes","tag-attorney","tag-down-town-lees-summit","tag-law-office-of-camron-hoorfar","tag-lawyer","tag-loch","tag-tax-tip","tag-taxes","tag-we-can-help"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2620"}],"version-history":[{"count":1,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2620\/revisions"}],"predecessor-version":[{"id":2622,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2620\/revisions\/2622"}],"wp:attachment":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}