Are You Caring for a Disabled Family Member? Read This.

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Article Highlights: Caring for Disabled Family Members Qualified Medicaid Waiver Payments Exclusion Qualifications Mandatory Exclusion Earned Income Earned Income Tax Credit Tax Court Ruling Many taxpayers prefer…

How Employee Stock Options Are Taxed

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Article Highlights: Non-statutory Option Wage Income Statutory (Incentive) Options Capital Gains Alternative Minimum Tax Many companies, as an incentive to employees to help grow the companies’ market value, will offer…

Be on the Outlook for Tax Reporting Forms

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Article Highlights: Form W-2 Form W-2G Form 1099-G Form 1099-MISC Form 1099-DIV Form 1099-INT Form 1099-B Form 1099-S Form SSA-1099 Form RRB-1099 Form 1099-R Form 1098-T Form 1095-A Form 1099-NEC …

Are You Worried You Won't Have Enough Money Saved for Retirement?

All of us dream of one day being able to retire - to finally be able to relax and enjoy the lifestyle we worked so hard for. However, you'll need a significant amount of money to do it, which is where a lot of Americans begin to worry. Saving…

Haven't Filed Tax Returns for Multiple Years? Here's What You Need to Do Next

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You'd be hard-pressed to find someone who actually enjoys the process of filing taxes. Having said that, it's absolutely something that you're supposed to do like clockwork every single year. Of course, there is a myriad of different reasons…

Many Taxpayers Will See Smaller Refunds This Year

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Article Highlights: Child Tax Credit  Dependent Care Benefits Recovery Rebates Employee Retention Credit Congress has for years used the tax return as a means of providing benefits to taxpayers in need and incentives to stimulate…

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…