Many seniors use savings bonds for good reasons. However, they still provide an incredible way to help pay for the college expenses of a young person. Understanding College Savings...
A tax credit allows you to deduct a certain amount of money from the taxes you owe. It differs from a tax deduction, which allows you to reduce your taxable income. Tax credits are...
Posted by Rosovich & Associates, Inc. on 06/24/2021
There are several college savings plans with 529 plans as one of them. It comes with a series of tax benefits and can allow you to build your kid's college funds with time. In...
Posted by Rosovich & Associates, Inc. on 06/18/2021
Your 1040sIf your income is over a specific amount, paying the federal income tax is mandatory. You might have to pay income tax in some states as well. The income tax rate is a matter...
There are bond authorities that are state-chartered in every state. These are housing agencies, healthcare facilities, authorities for the financing of industrial development, etc....
Tax season is a time that most of us both anticipate and dread. On one hand, there's the excitement of a potential tax refund, but on the other, there's the looming confusion...
Posted by True Tax Service on 10/21/2023
First, the similarities: 529 custody plans and accounts, such as the UGMA (Uniform Gifts to Minors Act) or UTMA (Uniform Transfers to Minors Act), offer parents other ways to help...
With many tax benefits available for education, it is evident that the government is interested in making higher education open and more accessible for many people. It can be...
Everyone that needs to pay for school fees using Coverdell ESA or 529 will likely get Form 1099-Q from the IRS. This reveals the entire withdrawal made in the year to cover your school...