Tax Benefits For Parents

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Article Highlights: Child Tax Credit Earned Income Tax Credit Head of Household Filing Status Child Care Education Savings Plans Education Tax Credit Education Loan Interest Child’s Medical Expenses If you are…

Important March 2023 Due Dates

March 2023 Individual Due Dates March 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than…

Planning On Buying a New Electric Vehicle and Claiming a Tax Credit? Better Read This First

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Article Highlights: Background Qualifications Income Limit 4-wheel vehicle Street Vehicle Minimum Battery Capacity Acquired for Original Use Final Assembly MSRP Critical Mineral and Battery Components …

Who Claims the Children’s Tax Benefits You or Your Ex-Spouse?

Article Highlights: Custodial Parent Dependency Release Joint Custody Tiebreaker Rules Child’s Exemption Head of Household Filing Status Tuition Credit Child Care Credit Child Tax Credit Earned Income Tax…

All the Signs That You May Need Some Assistance With Your Bookkeeping

Especially in the early days of a business, it can be natural to want to handle as many day-to-day tasks yourself - bookkeeping included. Sometimes, it's in an effort to save money. Often, entrepreneurs just feel like they're in a better position…

Wonder What a Tax Deduction Is Worth?

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Article Highlights: Non-business deductions Tax bracket Above-the-line deductions Itemized deductions Business deductions Tax credits Individuals are always looking for tax deductions that can reduce their tax liability.…

Want to Relieve Stress in 2023? Start Building Your Emergency Fund

Maybe you're one of the people who went through mass layoffs in virtually all industries in 2022. Maybe you've made a New Year's resolution to become more financially stable in 2023. You might even be worried that this is the year that the economy…

Consequences of Filing Married Filing Separate

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Article Highlights Reasons to File Separate Filing Threshold Community Property State Income Joint & Several Liability Social Security Benefits Taxation Threshold Capital Loss Limitation Sec 179 Limitation Rental…

Start Off on the Right Foot for the 2023 Tax Year

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Article Highlights: W-4 Updates W-9 Collection Estimated Tax Payments Charitable Contributions Required Minimum Distributions Gifting Retirement-Plan Contributions Beneficiaries Reasonable Compensation Business-Vehicle…

February 2023 Due Dates

February 2023 Individual Due Dates February 3 - Tax Appointment If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you. February 10 - Report Tips to Employer If…