Tax Credits & Deductions

Back-to-School Tax Tips

Back-to-School Tax Tips With the start of school just around the corner, taxpayers should be aware of the following tax breaks and deductions available for qualifying expenses. Private School Tuition and School Uniforms The cost of private school or parochial school tuition is not deductible. However, the child care component costs of private school [...]

By |2016-12-21T12:02:05-07:00August 8, 2016|Tax Credits & Deductions|

Energy Credit Tips

Energy Credit Tips You can trim your taxes and save on your energy bills with certain home improvements. Here are some key facts to know about home energy tax credits: Non-Business Energy Property Credit  Part of this credit is worth 10 percent of the cost of certain qualified energy-saving items you added to your [...]

By |2016-12-21T12:02:43-07:00July 19, 2016|Tax Credits & Deductions|

Dependent Care Credit Tips

Dependent Care Credit Tips Don't miss out on this tax break if you use a flex plan for child care costs: You can still claim the dependent care credit to the extent your expenses are more than the amount that you pay through your flexible spending account. The maximum amount of dependent care costs [...]

By |2016-12-21T12:02:37-07:00July 12, 2016|Tax Credits & Deductions|

Facts about the Child Tax Credit

Facts about the Child Tax Credit   The Child Tax Credit is an important tax credit that may save you up to $1,000 for each eligible qualifying child. Be sure you qualify before you claim it. Here are five useful facts from the IRS on the Child Tax Credit: Qualifications. For the Child Tax Credit, [...]

By |2016-12-21T12:03:16-07:00May 23, 2016|Tax Credits & Deductions, Tax Rules & Laws|

2015 IRA Contribution Facts

2015 IRA Contribution Facts Did you contribute to an Individual Retirement Arrangement last year? Are you thinking about contributing to your IRA now? If so, you may have questions about IRAs and your taxes. Here are some IRS tax tips about saving for retirement using an IRA: Age Rules. You must be under age [...]

By |2016-12-21T12:03:35-07:00March 16, 2016|Tax Credits & Deductions, Tax Planning, Tax Tips|

Tax Tips for Deducting Gifts to Charity

Tax Tips for Deducting Gifts to Charity The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you give. For instance, you must itemize your deductions. Here are six more [...]

By |2016-12-21T12:04:34-07:00December 29, 2015|Tax Credits & Deductions|

Back-to-School Education Tax Credits

[section_dd][column_dd span='12'][text_dd]If you, your spouse or a dependent are heading off to college in the fall, some of your costs may save you money at tax time. You may be able to claim a tax credit on your federal tax return. Here are some key IRS tips that you should know about e tax [...]

By |2016-12-21T12:06:02-07:00August 31, 2015|Tax Credits & Deductions|

Deducting Charitable Contributions

Deducting Charitable Contributions When you give a gift to charity that helps the lives of others in need. It may also help you at tax time. You may be able to claim the gift as a deduction that may lower your tax. Here are eight tax tips you should know about deducting your gifts [...]

By |2016-12-21T12:07:18-07:00July 6, 2015|Tax Credits & Deductions|

Adoption Tax Benefits

Adoption Tax Benefits If you adopted or tried to adopt a child in 2014, you may qualify for a tax credit. 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 some things you should know about adoption tax [...]

By |2016-12-21T12:07:28-07:00July 1, 2015|Tax Credits & Deductions, Tax Rules & Laws|
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