DenisB11028818

Sometimes people attempt to make an estate plan without consulting legal and financial professionals. Mostly this is because they may have a general understanding of estate planning and believe they [...]

It’s not uncommon for adult children to help support their aging parents. If you’re in this position, you might qualify for the adult-dependent exemption. It allows eligible taxpayers to deduct [...]

Maintaining good records is important to help meet your tax and legal obligations. The right record-keeping system not only helps satisfy these obligations, but it may save you money and [...]

If last year your business made repairs to tangible property, such as buildings, machinery, equipment or vehicles, you may be eligible for a valuable deduction on your 2016 income tax [...]

Rather than keeping track of the actual cost of operating a vehicle, employees and self-employed taxpayers can use a standard mileage rate to compute their deduction related to using a [...]

Different rules and conditions may apply to RMDs from inherited accounts and your qualified employer-sponsored retirement plans, including: 401(k) plans, 403(b) plans, 457(b) plans, Profit sharing plans, and Other defined [...]

Did you know that, once you turn age 70½, you must start taking mandatory annual withdrawals from your traditional IRAs, including any simplified employee pension (SEP) accounts and SIMPLE IRAs [...]

Information from irs.gov The IRS states that the Child Tax Credit is a tax credit that may save taxpayers up to $1,000 for each eligible qualifying child. Taxpayers should make [...]

Many taxpayers receiving Social Security benefits may be wondering if this income is taxable. If you receive Social Security benefits, then you may have to pay federal income tax on [...]

Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate planning strategy. Or perhaps you just wanted to provide loved [...]

Incentive stock options allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the grant date. [...]

Information from irs.gov An early withdrawal from your retirement plan may trigger an additional tax on top of income tax taxpayers may have to pay. Know the following when considering [...]

The Section 199 deduction is intended to encourage domestic manufacturing. In fact, it’s often referred to as the “manufacturers’ deduction.” But this potentially valuable tax break can be used by [...]

Information from irs.gov The best way to get your tax refund is via direct deposit. Here's why: Fast. By having your income tax return electronically filed by your tax preparer [...]