Kat

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So far Kat has created 301 blog entries.

What is the Work Opportunity Tax Credit, and Who Qualifies For It?

At its most straightforward, the Work Opportunity Tax Credit is available at the federal level to businesses that go out of their way to hire people from a targeted group that has historically had difficulty finding gainful employment. The theory is to encourage business owners of all types to create economic opportunities whenever possible. The [...]

By |2023-03-20T21:34:24-07:00March 20th, 2023|Categories: Uncategorized|Comments Off on What is the Work Opportunity Tax Credit, and Who Qualifies For It?

Are You Caring for a Disabled Family Member? Read This.

Article Highlights: Caring for Disabled Family Members Qualified Medicaid Waiver Payments Exclusion Qualifications Mandatory Exclusion Earned Income Earned Income Tax Credit Tax Court Ruling Many taxpayers prefer to care for ill or disabled family members in their homes as opposed to placing them in nursing homes, but doing this can be expensive, time-consuming, and exhausting. [...]

By |2023-03-10T21:43:34-08:00March 10th, 2023|Categories: Uncategorized|Comments Off on Are You Caring for a Disabled Family Member? Read This.

Should You Be Keeping Home Improvement Records?

Article Highlights: Keeping home improvement records Home gain exclusion amounts Records may be required to avoid tax Many taxpayers don’t feel the need to keep home improvement records, thinking the potential gain will never exceed the amount of the tax code’s exclusion for home gains explained as follows.    Under the current version of the [...]

By |2023-03-10T21:23:15-08:00March 10th, 2023|Categories: Uncategorized|Comments Off on Should You Be Keeping Home Improvement Records?

Haven’t Filed Tax Returns for Multiple Years? Here’s What You Need to Do Next

You'd be hard-pressed to find someone who actually enjoys the process of filing taxes. Having said that, it's absolutely something that you're supposed to do like clockwork every single year. Of course, there are a myriad of different reasons why you may have fallen behind. You could be going through something of a major life [...]

By |2023-03-02T23:23:57-08:00March 2nd, 2023|Categories: Uncategorized|Comments Off on Haven’t Filed Tax Returns for Multiple Years? Here’s What You Need to Do Next

March 2023 Individual Due Dates

March 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than March 10. Your employer is required to withhold FICA taxes and income tax withholding [...]

By |2023-02-23T23:41:26-08:00February 23rd, 2023|Categories: Uncategorized|Comments Off on March 2023 Individual Due Dates

Tax Benefits For Parents

Article Highlights: Child Tax Credit Earned Income Tax Credit Head of Household Filing Status Child Care Education Savings Plans Education Tax Credit Education Loan Interest Child’s Medical Expenses If you are a parent, whether single, married or divorced, there are a significant number of tax benefits available to you, including deductions, credits, and filing status [...]

By |2023-02-23T23:35:41-08:00February 23rd, 2023|Categories: Uncategorized|Comments Off on Tax Benefits For Parents

Are You Worried You Won’t Have Enough Money Saved for Retirement?

All of us dream of one day being able to retire - to finally be able to relax and enjoy the lifestyle we worked so hard for. However, you'll need a significant amount of money to do it, which is where a lot of Americans begin to worry. Saving for retirement is a constant fear [...]

By |2023-02-23T23:33:03-08:00February 23rd, 2023|Categories: Uncategorized|Comments Off on Are You Worried You Won’t Have Enough Money Saved for Retirement?

Tax Benefits for Grandchildren

Article Highlights: Financially Assisting Grandchildren College savings Education savings Retirement accounts Medical expenses If you are a grandparent there are several things you can do to teach your grandchildren financial responsibility and set aside money for their future education and retirement. Before we get into actual suggestions, it is important that you understand the gift [...]

By |2023-02-23T23:29:30-08:00February 23rd, 2023|Categories: Uncategorized|Comments Off on Tax Benefits for Grandchildren

Who Claims the Children’s Tax Benefits You or Your Ex-Spouse?

Article Highlights: • Custodial Parent• Dependency Release• Joint Custody• Tiebreaker Rules• Child’s Exemption• Head of Household Filing Status• Tuition Credit• Child Care Credit• Child Tax Credit• Earned Income Tax CreditIf you are a divorced or separated parent, a commonly encountered but often misunderstood issue is who claims the child or children for tax purposes. This [...]

By |2023-02-03T23:40:12-08:00February 3rd, 2023|Categories: Uncategorized|Comments Off on Who Claims the Children’s Tax Benefits You or Your Ex-Spouse?

February 2023 Individual Due Dates

February 3 - Tax AppointmentIf you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you. February 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during January, you are required [...]

By |2023-01-31T23:55:55-08:00January 31st, 2023|Categories: Uncategorized|Comments Off on February 2023 Individual Due Dates
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