Saving Tax with Home-Related Deductions and Exclusions
Currently, home ownership comes with many tax-saving opportunities. Consider both deductions and exclusions when you’re filing your 2016 return and tax planning for 2017: Property tax deduction. Property tax is generally fully deductible — unless you’re subject to the...
2017 Q2 Tax Calendar
Key Tax Deadlines for Businesses and Other Employers Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that...
2016 Ira Contributions — It’s Not Too Late!
Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016 tax bill. But even if it isn’t, making a 2016 contribution is likely a good idea. Benefits...
Who Can — and Who Should — Take the American Opportunity Credit?
Does Your Child Qualify? If you have a child in college, you may be eligible to claim the American Opportunity credit on your 2016 income tax return. If, however, your income is too high, you won’t qualify for the credit — but your child might. There’s one potential...
When an Elderly Parent Might Qualify as Your Dependent
Supporting Your Elderly Parent? It’s not uncommon for adult children to help support their aging parents. If you’re in this position, you might qualify for the adult-dependent exemption. It allows eligible taxpayers to deduct up to $4,050 for each adult dependent...Posts By Author
 Chris Coggins |  Jenny Shilling |