5 Tips for Children With Investment Income

Special tax rules may apply to some children who receive investment income. The rules may affect the amount of tax and how to report the income. Here are five important points to keep in mind if your child has investment … Continued

2016 Tax Scams: Watch Out for Fake Charities

The Internal Revenue Service warns taxpayers about groups masquerading as charitable organizations to attract donations from unsuspecting contributors, one of the “Dirty Dozen” for the 2016 filing season. “Fake charities set up by scam artists to steal your money or … Continued

Parents: Don’t Miss Out on These Tax Savers

Children may help reduce the amount of taxes owed for the year. If you’re a parent, here are several tax benefits you should look for when you file your federal tax return: Dependents.  In most cases, you can claim your … Continued

Choosing the Correct Filing Status

It’s important to use the right filing status when you file your tax return. The status you choose can affect the amount of tax you owe for the year. It may even determine if you must file a tax return. … Continued

Charitable Contributions

It’s that time of the year again, when many taxpayers make charitable contributions. You should note that charitable contributions are only deductible if you itemize deductions on Form 1040, Schedule A. To be deductible, you must make charitable contributions to … Continued

Moving Expense Deductions

If you move your home you may be able to deduct the cost of the move on your federal tax return next year. This may apply if you move to start a new job or to work at the same … Continued

Back-to-School Education Tax Credits

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. … Continued