It’s October, and it’s time to think about how the outcome of the election could impact our economy, our markets and, of course, YOUR money. Even if the election doesn’t go your way, your financial success is in your hands. Here’s a few ideas to help you make the most of the financial opportunities that
Educator Expense Tax Deduction
We are at the beginning of a new school year, and that means everyone, both parents and teachers have spent money on school supplies. Studies have shown that roughly 94% of teachers pay for their own supplies for their classrooms. In addition to the Back to School Sales Tax Holidays that many states have, there
529 Plans Are For Adults Also!
If you were a parent or grandparent who recently used contributions to a 529 plan to finance the cost of school for your child or grand-child, you may be wondering if a 529 plan might also be used by adults for themselves to get a degree or take classes later in life? The answer is
20 Tax Tips to Tame Your Tax Bill
While most people tune into taxes in March and April due to the annual deadline, tax planning is most effective when it is a year-round endeavor. Here are 20 of our CPA’s best tips to use throughout the year, to make the most of your tax return come tax time. Gift Tax Exclusion Currently,
Count on Summer Camp Tax Credits
School is out and that means it’s time for summer camp for the kids. Although summer camps can be expensive, whether it’s band, theatre, computer, or sports camp, the Child And Dependent Care Credit provides a welcome tax break for many parents! If you are working and responsible for the cost of childcare, you qualify
Thinking About a Vacation Home? Think Twice About Taxes
Are you stressed about whether it is a good financial move to buy a vacation home? With today’s housing prices, it can be scary. However, there are a number of ways that you can lessen this financial impact. Here are a few things our TFG CPAs recommend to help make it work for your pocketbook.
Beware SETC Tax Scams!
The IRS is constantly notifying taxpayers about scams that are circulating, in addition to releasing its annual “Dirty Dozen” list of tax scams. Recently, there has been an increase in the amount of bad tax advice going around on social media. Everyone needs to be careful about what they read on social media, but especially
Mid-Year Financial Wellness Checklist
Your health is important, so you don’t delay that mid-year trip to the doctor for a check-up. Well your financial health is just as important! And July is the perfect time for you and your family to have a mid-year financial check-up. Not sure how to review your goals and update your financial plan? Here’s
When in Doubt, Scan and Save Tax Records
Here is the answer you‘ve been waiting for to one of the most common questions asked of CPAs post-tax season. Which tax documents and financial papers out of the seemingly endless piles of information, do folks need to keep? Generally, keep records that support an item of income, a deduction, or a credit shown on
Tax Breaks for Taking Care of Mom and Dad
Since Mother’s Day is almost here and Father’s Day is right around the corner, we wanted to remind clients about the tax benefits which exist for adult children taking care of their elderly parents. The Bureau of Labor says that over 37 million people in the U.S.A. are involved in eldercare. According to AARP, 78%
