It's tricky to make the mistake of believing that perhaps the benefits of the Roth IRA are limited to retirement. After all, you've presumably been told that you can...
Posted by CORE PERFORMANCE on 02/23/2021
A Coverdell education savings account, also known as CESA, is a tax-deferred trust account. It is a creation of the Federal government to help American families fund educational expenses...
The filing status of a taxpayer depends on individual circumstances. Are you married or single? Do you have dependents? Identifying the correct filing condition is essential, as it...
What is a dependent?A dependent is a qualified person other than the taxpayer or spouse, who gives the taxpayer the right to request a dependency exemption on their income tax return....
If you paid for college in the past year, you could claim the American Opportunity Credit or the Lifelong Learning Credit, or you can deduct tuition and fees. The American Opportunity...
In the previous years, people who paid for college qualify for the lifetime learning Credit, American Opportunity Credit, or the tuition deduction. The most valuable of these is the...
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...
Some profound tax changes came around in Jan 2018 with the passing of the Tax Cuts and Jobs Act (TCJA). As a result of this law, the personal exemption was suspended till 2025. It...
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021