Kids can be overwhelming when they are cooped up in the house while on break, but they are also blessed tax-savers when you file your taxes. Here are some of the tax benefits for having children and other dependents.
December is a time for giving gifts, and some employers give year-end bonuses to their employees to show gratitude for a year of faithful service. If your employer has promised you a bonus, you’re likely already thinking of all the...
The article below is up to date based on the latest tax laws. It is accurate for your 2019 taxes (filed in 2020) and 2018 taxes. October is Financial Planning Month, and what better way to plan than to take...
The presidential election is here and political ads were jamming the airwaves, and your email and voice mail may have been filled with pleas from candidates for money to help them get elected. We all know that donations to charities are deductible. But if you contributed to a candidate or political party or a PAC (Political Action Committee), is your contribution deductible? In a word, NO
When COVID-19 struck, millions of people, unfortunately, lost their jobs. Some were laid off, and others were furloughed. You may be wondering, what’s the difference between being laid off and furloughed? When you are laid off, you have been let...
Many benefits are limited to those people whose income is below a certain level. Certain tax deductions and credits such as the Child Tax Credit and the Earned Income Tax Credit are not solely based on your income but your...
The tax deadline is upon us! Most people who are due tax refunds file early in the year, but this year is a little different. According to IRS latest stats, there are millions of tax refunds that still need to...
If you moved last year, you had to get settled in your new community and make it feel like home for yourself and your family. If you moved from one state to another, you had even more to do, as...
“Flip houses and make big bucks” scream the headlines. The premise is simple – buy real estate with little down, fix it up, and sell it quickly. What could be easier? Well, easy or not, one thing the promoters rarely...
You may have heard tax reform eliminated tax deductions for un-reimbursed employee business expenses beginning with your 2018 taxes. If you own your own business, however, you can still deduct business expenses. So what high-tech toys (oops, excuse me, necessary...
