If you decide to go back to school or help pay for the tuition of a child or grandchild, keep in mind that certain types of expenses may qualify for special tax treatment. Many pension...
Posted by KLSM CPA Firm PLLC on 05/22/2022
The Earned Income Tax Credit, or EITC, provides tax benefits to low- and middle-income workers and families. Credit range from $1,502 to $6,728 for fiscal year 2021 and $560 to $6,935...
Posted by Income Taxes and Bookkeeping LLC on 04/30/2022
When you retire and begin to reduce your income from work, it becomes essential to take advantage of all the tax benefits available. This way, you will maximize your savings and help...
Posted by Abundant Wealth Planning LLC on 04/09/2022
Married couples can file federal income tax returns together or separately. The Internal Revenue Service strongly encourages couples to file joint tax returns, extending more tax cuts...
Posted by CORE PERFORMANCE on 04/09/2022
Persons aged 65 and over and those who took early retirement due to disability are eligible for a federal tax credit which varies from $3,750 to $7,500. The senior citizen or disability...
Posted by Dennis Jao on 03/31/2022
After years of perfect retirement planning, diligent investing, creating detailed budgets, and wisely investing resources, many investors continue to overlook an important detail:...
Posted by Rosovich & Associates, Inc. on 02/14/2022
Today, relatively few Americans itemize deductions on their tax returns. You can claim either the standard deduction or the itemized deductions, but not both. And, of course, you always...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 02/08/2022
When you file a federal tax return, you have the option of taking the standard deduction and itemizing your deductions. Due to changes in the tax code, many taxpayers now work with...
Posted by Dennis Jao on 02/08/2022
The main traditional sources of retirement income in the United States are often referred to as a three-legged or three-pillar chair:Social Security benefitsEmployer-provided pensions...
Posted by Dennis Jao on 01/27/2022
