Article Highlights: Scams and Phishing on the Rise Email Phishing and Scams IRS Communications The Bait Unfamiliar Communications Forwarding Internet Links Elderly Individuals You are probably as tired of hearing about ID theft, phishing, phone scams and other schemes as you are of the political infighting in Washington. However, for most people, protecting themselves against [...]
Article Highlights: Potential Credit Eligible Employees Credit Determination Certification Process Other Issues If you are an employer who is willing to help disadvantaged individuals, you could benefit from a substantial federal tax credit. Hiring certain new employees can qualify you for the work opportunity tax credit (WOTC). You will need to make sure that you [...]
Article Highlights: Sec. 529 plans Coverdell Education Savings Accounts American Opportunity Tax Credit The Lifetime Learning Credit Qualified Education Loan Interest Figuring out how to pay for your child’s trade school or college education can be challenging, and the earlier you create your plan and begin executing it, the greater your chances are of having [...]
Article Highlights: Disaster Losses Elections Net Operating Loss AGI Limitations Possible Gain Filing Extensions With the historic flooding and damage caused by Hurricane Harvey, President Trump has declared the affected area a disaster area. If you were an unlucky victim and suffered a loss as a result of this disaster, you may be able to [...]
Article Highlights: Residence or Domicile Moving Expenses Combat Pay Exclusion Living Allowances Home Mortgage Interest and Taxes Home Sale Gain Exclusion Reservist Travel Expenses Reservist Early Withdrawal Exception Extension of Deadlines Uniform Costs and Upkeep Joint Returns Tax Forgiveness ROTC Students Transitioning Back to Civilian Life Military service members have special obligations and take risks [...]
Article Highlights: Social Security Administration IRS Notification USPS Notification Withholding & Estimated Payments Revising W-4s Insurance Marketplace Filing Status New Spouse’s Past Liabilities Capital Loss Limitations Spousal IRA Deductions Impact on Parents’ Returns Now that the honeymoon is over, there is a number of tax and financial issues newlyweds need to consider and take action [...]
