“WASHINGTON – IRS SUMMERTIME TAX TIP 2013-19” – Going to college can be a stressful time for students and parents. The IRS offers these tips about education tax benefits that can help offset some college costs and maybe relieve some of that stress. Read more
WASHINGTON – IRS SPECIAL EDITION TAX TIP 2013-11 – If you are a working parent or look for work this summer, you may need to pay for the care of your child or children. These expenses may qualify for a tax credit that can reduce your federal income taxes. Read more
WASHINGTON – IRS SPECIAL EDITION TAX TIP 2013-10 – When summer vacation begins, classroom learning ends for most students. Even so, summer doesn’t have to mean a complete break from learning. Read more
The filing status you choose when you file your 2012 tax return will affect the tax breaks you’ll qualify for, your standard deduction amount, and ultimately the amount of tax you’ll pay. Are you single, head of household, married filing jointly, or married filing separately? Read more
“WASHINGTON – IRS Tax Tip 2013-21” – If you were married or divorced and changed your name last year, be sure to notify the Social Security Administration before you file your taxes with the IRS. If the name on your tax return doesn’t match SSA records, the IRS will flag it as an error and that may delay your refund. Read more
“WASHINGTON – IRS Tax Tip 2013-11 ” – Your children may help you qualify for valuable tax benefits, such as certain credits and deductions. If you are a parent, here are eight benefits you shouldn’t miss when filing taxes this year. Read more
Most taxpayers believe that a “dependent” is a minor child that lives with them. While that is essentially correct, dependents can include parents, other relatives and nonrelatives, and even children who don’t live with you. There is really much more to the dependent deduction than you might at first imagine. Read more
When planning gifts for children on your holiday list, you might want to think beyond the traditional retail offerings. Consider financial gifts that can bestow benefits for many years to come. Read more
There’s one important subject that your children may not learn in school: personal finance. If you want your kids to pick up good money skills and become financially responsible adults, you should give them some training yourself. Read more
WASHINGTON – IRS SUMMERTIME TAX TIP 2012-25 – Whether you’re a recent high school graduate going to college for the first time or a returning student, it will soon be time to head to campus, and payment deadlines for tuition and other fees are not far behind. The IRS offers some tips about education tax benefits that can help offset some college costs for students and parents. Typically, these benefits apply to you, your spouse or a dependent for whom you claim an exemption on your tax return. Read more