The Child Tax Credit is an important tax credit that may save you up to $1,000 for each eligible qualifying child, that said, you should be sure that you qualify before you claim it. Here are four useful facts from … Continued
What to do with Form 1095-A This year, you may receive one or more forms that provide information about your 2015 health coverage, such as forms 1095-A, 1095-B and 1095-C. Form 1095-A, Health Insurance Marketplace Statement, provides you with information … Continued
You can trim your taxes and save on your energy bills with certain home improvements. Here are some key facts to know about home energy tax credits: Non-Business Energy Property Credit Part of this credit is worth 10 percent of the … Continued
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Starting a new company can involve a lot of filings and registrations that you might not even have known existed, and it can get a little overwhelming. The flow chart will help you make sure you touch all of the bases and nothing falls through the cracks.
The Tax Code and its regs impose substantiation requirements that become more rigorous as the items of donated property increase in value. The basic rules are summarized in brief, below: Donations of money. A bank record or a written communication … Continued
The IRS recently issued a Reference Guide on the Report of Foreign Bank and Financial Accounts (FBAR). This IRS reference guide is available on the IRS website ( www.irs.gov), specifically at the webpage entitled “Report of Foreign Bank and Financial … Continued
Federal Tax Day – Current,T.1,TIGTA Warns of Largest Ever Phone Fraud Scam Targeting Taxpayers, (Mar. 24, 2014) The Treasury Inspector General for Taxpayer Administration (TIGTA) has issued a warning to taxpayers to beware of phone calls from individuals claiming to … Continued
For many taxpayers, the Roth IRA is one of the best tax-advantaged retirement plans around. Are you eligible to harvest the grapes of Roth? Is a Roth IRA or a traditional IRA right for you? Choosing between the Roth IRA … Continued
In spite of legislative changes and political hype, the “marriage penalty” that has existed in the tax laws is far from gone. A “marriage penalty” still exists in several areas of the tax law. Recent tax legislation made the standard … Continued
