principal residence

What are the Rules of Home Acquisition Indebtedness?

First, you should know what “Home Acquisition Indebtedness” is.  When you purchase a home and take a loan out on it, that loan qualifies as a loan you used to acquire your home.  If you purchased your home in the … read more

Nonbusiness Energy Property Credit – Extended, but not too Generous

While the recently passed Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (2010 Tax Relief Act) contained a host of taxpayer-friendly provisions—for taxpayers hoping to take advantage of the nonbusiness energy property credit, it was less than … read more

Nonbusiness Energy Property Credit

Are you thinking of going green and making energy efficient improvements to your home?  Well, now is the time to act! The American Recovery and Reinvestment Act of 2009 has increased the tax credit from 10% to 30% of the … read more

First-Time Homebuyer Credit – Residency Exceptions

Previously, Mike Anderson and Jill Helm had provided certain information regarding the first-time homebuyer credit. This blog will provide additional information regarding the residency requirements for individuals and married couples. For first-time homebuyers that are married, both spouses have to meet … read more


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There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.


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