What Tax Documents Can Your Safely Shred? And Which Ones Should You Keep?
Once your 2024 tax return is in the hands of the IRS, you may be tempted to clear out file cabinets and delete digital folders. But before […]
Discover if you Qualify for “Head of Household” Tax Filing Status
When you prepare your tax return, you’ll check one of the following filing statuses: single, married filing jointly, married filing separately, head of household or qualifying widow(er). […]
Deduct a Loss from Making a Personal Loan to a Relative or Friend
Suppose your adult child or friend needs to borrow money. Maybe it’s to buy a first home or address a cash flow problem. You may want to […]
Turning Stock Downturns into Tax Advantages
Have you ever invested in a company only to see its stock value plummet? (This may become relevant in light of recent market […]
Maximizing Employee Transportation Fringe Benefits
There are some nice tax breaks for transportation-related employee fringe benefits. If your employer offers these tax-favored fringes, you should probably take advantage of them by signing […]
The Extended 2024 Gift Tax Return Deadline is Looming
If you made significant gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2024 gift tax […]
Can I Itemize Deductions on my Tax Return?
You may wonder if you can claim itemized deductions on your tax return. Perhaps you made charitable contributions and were told in the past they couldn’t be […]
You May Be Able to Make a Deductible IRA Contribution for Last Year This Year
If you’re getting ready to file your 2024 tax return and your tax bill is higher than you’d like, there may still be a chance to lower […]
Financial Relief for Families: The Benefits of the Child Tax Credit
The Child Tax Credit (CTC) has long been a valuable tax break for families with qualifying children. Whether you’re new to claiming the credit or you’ve benefited […]
Taming the Tax Tangle if You’re Retiring Soon
Retirement is often viewed as an opportunity to travel, spend time with family or simply enjoy the fruits of a long career. Yet […]
