While the 2020 tax filing season promises to be less confusing than 2019, there are still a number of changes that taxpayers should be aware of. Continue reading
What’s New for the 2020 Tax Filing Season
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Category Archives: tax credits
Individual Taxpayers: Recap for 2019
As we close out the year and get ready for tax season, here’s what individuals and families need to know about tax provisions for 2019. Continue reading
Tax Tips for Owners of Historic Buildings
If you own a historic building, you should know about a tax credit called the rehabilitation tax credit, which offers an incentive to renovate and restore old or historic buildings. Continue reading
Year-End Tax Planning for Individuals
With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax burden for next year. Continue reading
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Tax Deductions for Teachers and Educators
Educators can take advantage of tax deductions for qualified out-of-pocket expenses related to their profession such as classroom supplies, training, and travel. As such, as the new school year begins, teachers, administrators, and aides should remember to keep track of education-related expenses that could help reduce the amount of tax owed next spring. Continue reading
Credit Reports: What You Should Know
Creditors keep their evaluation standards secret, making it difficult to know just how to improve your credit rating. Nonetheless, it is still important to understand the factors that determine creditworthiness. Periodically reviewing your credit report can also help you protect your credit rating from fraud–and you from identity theft. Continue reading
10 Facts About the Adoption Tax Credit
If you adopt a child in 2019, you may qualify for a tax credit, and if your employer helped pay for the costs of an adoption, you may be able to exclude some of your income from tax. Here are ten facts you should know about the Adoption Tax Credit. Continue reading
Special Tax Breaks for Members of the Armed Forces
Active members of the U.S. Armed Forces should be aware that there are special tax benefits available to them such as not having to pay taxes on some types of income or more time to file and pay their federal taxes. If you’re an active member of the armed forces, here’s what you should know about these important tax benefits. Continue reading
How the Sharing Economy Affects Your Taxes
If you’ve ever used, or provided services for, Uber, Lyft, Airbnb, Etsy, Rover, or TaskRabbit, then you’re a member of the sharing economy and it could affect your taxes. The good news is that if you’ve only used these services (and not provided them), then there’s no need to worry about the tax implications. Continue reading
