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Newspaper
Destin Log
Location
Destin, Florida, United States of America
Date
Sep 04, 1985
Page
13
A Florida Institute of CPAs briefing outlines major but not all changes in the President's tax reform plan. It details 15 25 and 35 percent brackets for singles and joint filers exemptions adjustments zero bracket increases and itemized deductions losses including state and local tax deductions and most business entertainment deductions.
IRS district director Merlin W. Heye warns Florida taxpayers not to assume all solar hot water system costs qualify for the residential energy tax credit. Only components whose sole purpose is to transmit or use solar radiation and labor costs qualify. electric elements and storage tanks with electric heaters do not. For questions, contact a tax professional or call 1 800 424 1040.
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