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...
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%...
Buying a home can be difficult and expensive. Thankfully, there are tax breaks that can help you in your quest to become a homeowner, and also assist you with the mortgage and maintenance. Our tax experts have put together a list which can provide great savings for those who qualify. Using 401(k) or IRA funds...
You may be surprised to learn that your child is a separate taxpayer, even as a minor. If your kids recently started working, or otherwise earning income, they may need to file a tax return this year. How much does your child have to make? Don't panic, if they only had earned income from wages,...
Like being your own Boss? There are a lot of positives, and one is that you have a lot more options regarding tax deductions. The good news is, when you are self-employed, there are many strategies you can take advantage of, which create big opportunities for tax savings. The bad news is that you have...
