Author Archives: admin

Selling your Home

December 18, 2018

Since the real estate market is beginning to show a positive trend, it is a good time to review the tax requirements for selling a home and any related tax breaks. If you sell your primary home (the one you lived in full time), it is likely that the sale will be tax – free. […]

Categories: General

Financially, the time after graduation can be tough. Starting by yourself, looking for a job, trying to pay back money you borrowed for school can all be quite stressful when it comes to budget management. Fortunately, some tax breaks can be claimed by recent college graduates to save money. Student loan interest deduction: borrowers earning […]

Categories: Credits Tags: , ,

Figuring out the Filing Status

December 16, 2018

When your taxes are filed, you need to know what filing status you should use. There are differences between the five different options, and you will choose the one that best benefits you. Make tax time easier and faster by filing correctly. The Big Five The five different status are: single, married, separate married, householder […]

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The earned income tax credit is a way for low and moderate income families to save some money during taxation. The EITC is reimbursable and may reduce taxes owed to families working under certain circumstances to zero. If your income primarily comes from working and not investing, you are eligible. The level of income changes […]

Categories: Credits Tags: , ,

The Child Tax Credit

December 14, 2018

Families working know how expensive it is to raise children. At tax time, the government offers these families some help through the 1997 child tax credit. This credit gives eligible families $ 2,000 per child under 17 years of age. Both Democrats and Republicans continued to support tax credit, which resulted in an expansion in […]

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Business Deductions

December 13, 2018

As a businessman, you are probably aware of the many deductions you may have when you file your tax return. You can deduct almost anything you buy for the company as long as it is necessary for the company. The cost must also be sensible. The deductions can really add up for small businesses and […]

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Filing Status

December 10, 2018

The status of your tax filing is one of the most important decisions you make at the time of taxation. In addition to the tax rates and the different amounts you can deduct, your filing status determines the benefits for which you are eligible. Your registration status depends on your marital status as of 31 […]

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Education Credits 

December 9, 2018

Education is not cheap and it is difficult for far too many people to pay for their education. The federal government has fortunately developed two different tax credits that can help reduce the amount owed at the time of taxation. These credits, the American Opportunity Credit and the Lifetime Learning Credit help taxpayers who have […]

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Donations

December 8, 2018

When you donate to an established charity, your donations are often deductible from taxes. This gives you the opportunity to get back some extra items that you won’t use anyway. You must ensure that you keep an accurate list of all the donation items, because you must report your donation to the IRS. At the […]

Categories: Deductions Tags: ,

Tax Dependents

December 7, 2018

One of the easiest ways to increase your tax benefits at the time of taxation is to claim a dependent for a child or adult. You can save some of the tax you owe, because certain dependents or a certain age and relationship can reduce your tax liability. You can claim the child tax credit, […]

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