Answers to Your Tax Season Questions
The IRS announced it opened the 2024 income tax return filing season on January 29. That’s when the tax agency began accepting and […]
The Kiddie Tax Could Affect Your Children Until They’re Young Adults
The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead of at […]
It’s Possible (But Not Easy) to Claim a Medical Expense Tax Deduction
One of your New Year’s resolutions may be to pay more attention to your health. Of course, that may cost you. Can you […]
Don’t Overlook Taxes When Contemplating a Move to Another State
When you retire, you may think about moving to another state — perhaps because the weather is more temperate or because you want to be closer to […]
Court Awards and Out-of-Court Settlements May (or May Not) Be Taxed
Monetary awards and settlements are often provided for an array of reasons. For example, a person could receive compensatory and punitive damage payments […]
The “Nanny Tax” Must be Paid for Nannies and Other Household Workers
You may have heard of the “nanny tax.” But if you don’t employ a nanny, you may think it doesn’t apply to you. […]
Don’t Forget to Empty Out Your Flexible Spending Account
If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an important date coming up. […]
Filing a Final Return for a Deceased Taxpayer
As reported via IRS Tax Tip 2023-51 4/17/2023
After someone with a filing requirement passes away, their […]
Tax Tips for New Parents
As reported via IRS Tax Tip 2023-89 in October 2019
Kids are expensive. Whether someone just brought a bundle […]
