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...
Caring for children or dependent adults is one of the biggest monthly expenses many families face. But without primary care, parents may be unable to leave home to earn a living or...
Posted by CORE PERFORMANCE on 01/30/2021
The adoption credit is a nonrefundable tax credit, which means that the tax credit amount is limited to taxes due on your 2020 income tax return. Any additional credit value can be...
If you are one of those persons who supported your parents financially in the previous year, the U.S government is willing to share the cost by providing certain deductions when you...
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...
An employee's work is usually repaid in wages, salaries, commissions, tips, additional benefits, fringe benefits, and bonuses. All of these taxes are subject to various state and...
Is Foster Income Taxed?Payments received as Foster Income are NOT taxable, so you do not need to report them. Suppose the assistance is provided to a qualified foster individual and...
When Do You Need to Amend Your Tax Return?Filing an amended tax is a nightmare for many people. You have tried your best to be diligent with the preparation. You spend sleepless nights...