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Paying For College CAN Be Less Taxing

Paying For College CAN Be Less Taxing

Education Tax RulesParents facing college expenses have several provisions in the tax law to consider. The benefits don’t apply to all, but there is something of interest for many families.Tax creditsThe American Opportunity Tax Credit (formerly The Hope Credit) is...

Standard Mileage Rates for 2019

Standard Mileage Rates for 2019

Starting January 1, 2019, the standard mileage rates for the use of a car, van, pickup or panel truck are as follows:58 cents per mile driven for business use, up 3.5 cents from the rate for 201820 cents per mile driven for medical or moving purposes, up 2 cents from...

The Tax Consequences of Losing your Job

The Tax Consequences of Losing your Job

If you've lost your job you may have questions surrounding unemployment compensation, severance, and other issues that could affect your tax situation. Here are some answers:Q: What if I receive unemployment compensation?A:Unemployment compensation you receive under...

IRS: Make an Estimated Tax Payment Now to Avoid a Tax Time Surprise

IRS: Make an Estimated Tax Payment Now to Avoid a Tax Time Surprise

The Internal Revenue Service is advising taxpayers, whose 2018 federal income tax withholding unexpectedly falls short of their tax liability for the year, that they can still avoid a tax-time surprise by making a quarterly estimated tax payment directly to the IRS....

Tax Tips for Older Americans

Tax Tips for Older Americans

Everyone wants to save money on their taxes, and older Americans are no exception. If you're age 50 or older, here are six tax tips that could help you do just that.1. Standard Deduction for Seniors. If you and/or your spouse are 65 years old or older and you do not...

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