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Paying for College: Recent Legislation May Help As anyone with a child in college or going to college in the next few years knows, a college education is not getting any cheaper. But, recent legislation has made that college education a bit more attainable.

Changes to the Home Sale Gain Exclusion Many taxpayers bought a second home, such as a vacation home, with the intention of later converting the second home into their principal residence. Under pre-2008 Housing Act law, those taxpayers could have excluded up to $250,000 ($500,000 for certain joint filers) upon a later sale of that former vacation home as long as the two-year ownership and use tests for the exclusion were satisfied.

Year-end Tax Planning Strategies for Individuals and Business Owners As we approach year-end, there is still time to take action to lower your 2008 tax bill and add to your tax-advantaged retirement accounts.