March 2016

What You Need to Know About the Child and Dependent Care Tax Credit

Issue Number: IRS Tax Tip 2016-38 Don’t overlook the Child and Dependent Care Tax Credit. It can reduce the taxes you pay. Here are 10 facts from the IRS about this important tax credit: 1. Child, Dependent or Spouse. You may be able to claim the credit if you paid someone to care for your child, …read more

Still Time to Make Your IRA Contribution for the 2015 Tax Year

IRS Tax Tip 2016-39 Did you contribute to an Individual Retirement Arrangement last year? Are you thinking about contributing to your IRA now? If so, you may have questions about IRAs and your taxes. Here are some IRS tax tips about saving for retirement using an IRA: Age Rules. You must be under age 70½ …read more

Divorcing?

How to make sure your ex doesn’t end up with your assets After the fireworks comes the paperwork. The legal and financial paperwork brought about by a divorce can be as overwhelming as the emotional strain, with all of the deeds, decrees and debts that need to be re-organized, re-titled and implemented into your life …read more

Home Energy Credits Save Money and Cut Taxes

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 cost of certain qualified energy-saving items you added to your main home last year. …read more

Five things you should know about the child tax credit

The Child Tax Credit is an important tax credit that may save you up to $1,000 for each eligible qualifying child. Be sure you qualify before you claim it. Here are five useful facts from the IRS on the Child Tax Credit: 1. Qualifications. For the Child Tax Credit, a qualifying child must pass several tests: …read more

The Saver’s Credit

Well-kept secret for U.S. taxpayers: the Saver's Credit It sounds too good to be true: some workers can get a double tax benefit by saving for retirement. But the federal Saver’s Credit does just that by providing a second layer of tax incentives for lower-income households beyond the benefit of tax deferral that everyone receives …read more

Trusts and your accountant’s role

Trust Accounting: What you should know about trusts and your accountant’s role Many estate planners recommend that clients create trusts for various reasons, but problems can arise when the trustee is a family member who has no experience regarding the responsibilities of a trustee. In many cases the trustee selected by the creator of the …read more

Refinancing Student Loans

How to tell if it’s time to refinance your student loan To a college grad, student loans are thing of the past, present and future. Some students will graduate with anywhere from 1-16 different loans and keeping tabs on every loan and their due dates can be difficult. There are ways to make managing those …read more

Self-employed tax tips

Self-employed? Check out these IRS tax tips If you are self-employed, you normally carry on a trade or business. Sole proprietors and independent contractors are two types of self-employment. If this applies to you, there are a few basic things you should know about how your income affects your federal tax return. Here are six …read more