28Jul
28Jul
Tax Benefits When Saving for College Education
Article Highlights:
Planning for a Child’s Post-Secondary Education Tax-Favored Plans Tax-Free Earnings Coverdell Accounts Qualified Tuition Plans Have Others Contribute Gift Tax Issues Tuition GiftsA common question among parents is, “How might I save for a child’s post-secondary education in a tax beneficial way?” The answer depends on...
28Jul
Planning for a Child’s College Expenses Should Start Early
Article Highlights:
Sec. 529 plans Coverdell Education Savings Accounts The Lifetime Learning credit Qualified Education Loan InterestSome in Congress have proposed “free” (i.e., government-paid) tuition for community college attendance. Even if that proposal were to become law, it still leaves parents and their children (students) responsible for paying...
28Jul
Why should you reconcile your bank account?
Bank reconciliations are an essential part of the small business bookkeeping process. Regularly scheduled account reconciliations ensure money spent matches the money leaving the account. This is especially important for businesses to prevent accounting errors, such as overstated income or expenses, inspect fraudulent activity, and ensure accurate financial reports.
28Jul
Tax Deductions Without Itemizing
Article Highlights
Charitable Contributions Educator Expenses Performing Artist Expenses State and Local Government Officials’ Expenses Health Savings Account Contributions Moving Expenses for Members of the Armed Forces Student Loan Interest Deduction Tuition and Fees Deduction Deduction for Early Withdrawal of Savings Deductible Part of Self-employment Tax Self-employed Health...
28Jul
Easily Check the Status of Your Refund
Article Highlights:Your Federal Tax Refund Status Can Be Checked Online Delay When Claiming Earned Income Tax Credit or Additional Child Tax Credit “Where’s My Refund?” Refunds Are Generally Issued Within 21 Days of E-Filing Paper Filed Return Will Take Longer Information Needed to Check Refund Status Direct Deposit Provides the Quickest Refunds When to Call the IRSIf...
28Jul
Writing Off Your Business Start-Up Expenses
Article Highlights:
$5,000 First-year Start-up and Organizational Expense Write-off Timely Filing Requirements Qualifying Start-up Expenses Trade or Business Purchase Qualifying Organizational Expenses Expense Write-off Limitations How to Make the Election Other ConsiderationsSadly, as a result of the COVID pandemic, many small firms have gone out of business. Fortunately, with the help of vaccines, new businesses will...
28Jul
4 Ways to Stop Overspending
If opening your credit card bills, your checkbook or your wallet are traumatic events, you may have a problem with overspending. It's nothing to be ashamed of, and you're certainly not alone, but there's a good chance that it keeps you from achieving some of your goals. If you have...
28Jul
Tax Benefits When Saving for College Education
Article Highlights:
Planning for a Child’s Post-Secondary Education Tax-Favored Plans Tax-Free Earnings Coverdell Accounts Qualified Tuition Plans Have Others Contribute Gift Tax Issues Tuition GiftsA common question among parents is, “How might I save for a child’s post-secondary education in a tax beneficial way?” The answer depends on...
28Jul
Tax Planning to Help New Franchisees
Whether you are considering becoming a franchisee or already involved, it’s essential to have the support of a knowledgeable tax planner. This will help ensure you understand your tax obligations and are preparing accordingly. Here are just a few of the things that you need to keep in mind:
