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...
Before the Kiddie tax, parents could get tax savings by setting up an investment account using the kid's name. Parents could give various items like a stock to their kids in which...
For people having difficulty settling a debt with Uncle Sam, there is the opportunity for an installment agreement every Month. For instance, people with a deficit of $50,000 or less...
The average Americans do find it challenging to know which of the tax credit they can utilize. Yet, tax credits are essential as they provide an easy way of reducing the overall tax...
You might have a home where you stay for some time in a year while you rent it for the other part of the year. Doing this means you have to prorate the incurred expenses between rental...
There are essential elements in the 2018 tax law changes that will affect farmers and their families. These changes span through to 2025.Effect on Individuals Standard Deduction:...
Posted by Carmen Garcia on 11/18/2020
529 state-run plans have always had tax benefits, but recent federal tax law changes have made them even more attractive to many families. Here's what you need to know to get the...
There is a way you can deduct the medical expenses of another person, even if the person is not under the same roof as you. This is a tax break that many do not utilize, especially...
Women tend to worry a lot about retirement. This is not surprising as women tend to live longer, and they typically need more health care plans compared to men. This makes it essential...