Articles

Unpaid Debt Can Take Your Refund

As the 2015 tax season approaches, you may be getting excited about your potential tax refund. However, that excitement may be premature if you have outstanding federal or state debts.  The Treasury Department’s Bureau of the Fiscal Service (BFS) issues

Posted in Client Education

Are Legal Expenses Tax Deductible?

A frequent question that arises is whether legal expenses are deductible.  The answer to that question can be both yes and no and can be complicated depending upon the nature of the legal expense.  The Internal Revenue Code (IRC), which

Posted in Client Education

Purchasing Health Insurance Through the Govt Marketplace?

When applying for insurance through a state or the federal health insurance marketplace, you will be asked to provide an estimate of your household income for 2016. Your household income is a key factor in determining if you are qualified

Posted in Client Education

All You Need to Know about the New Tax Extender Legislation

Congress has reached a bipartisan agreement on tax extenders, aptly named “Protecting Americans from Tax Hikes Act of 2015”. Much to everyone’s surprise, some were made permanent while others were only extended for a period of time. Congress also modified

Posted in News

Parents Can Get Credit for Sending their Kids to Day Camp

With summer underway, there is a tax break that working parents should know about: The cost of day camp can count as an expense towards the child and dependent care credit. But be careful; expenses for overnight camps do not qualify.

Posted in Client Education

Planning Your IRA Withdrawal?

Advance planning can, in many cases, minimize or even avoid taxes on IRA distributions and other qualified plan distributions. This article covers some of the important issues to consider when contemplating retirement and when to begin tapping retirement accounts.

Posted in Client Education

Forgot Something? It’s Not Too Late to Amend Your Return

If you discover that you forgot something on your tax return, you can amend that return after it has been filed. The need to amend can be because of: Receiving an unexpected or amended K-1 from a trust, estate, partnership,

Posted in News

Don’t Panic if You Receive an IRS Notice

If it is not your refund check in the mailbox, that letter from the IRS will probably increase your heart rate a little. Don’t panic; many of these letters can be dealt with simply and painlessly.

Posted in Client Education

Tax Tips for Recently Married Taxpayers

This is the time of year for many couples to tie the knot. If you marry during 2015, here are some post-marriage tips to help you avoid stress at tax time.

Posted in Client Education

Tax Tips for Students with a Summer Job

Many students hold a summer job during their time off from school. This article discusses some tax issues that should be considered when working a summer job.

Posted in Client Education