This article was written to help you answer the question: Should I superfund my 529 plan? First, let’s start with the basics. What is a 529 plan? With colleges and universities becoming more necessary in today’s world, but with tuition prices on the rise across the country, the 529 plan is something you should consider …
Hiring a babysitter, or nanny, is a great way to have in-home care for your kids while you’re working, running errands, or doing whatever it is that you need to do sans-children. What you may not know is that the IRS sometimes considers these caregivers to be “household employees”, and therefore requires employment taxes (or …
What is the Child Tax Credit? The Child Tax Credit was first introduced in 1998 as a part of the Taxpayer Relief Act of 1997 as a $500-per-child non-refundable tax credit. This meant that a taxpayer could not claim the full credit amount, if their total tax liability was less than the $500-per-child credit. In …
Dealing with the IRS isn’t always simple and straightforward. Most employed individuals have the luxury of paying regular income tax which is withheld from their paychecks. But depending on what kind of work you do and how you do it, you may be obliged to pay quarterly estimated taxes. What Are Quarterly Estimated Taxes? The …
Quarterly Estimated Taxes: Due Dates & Penalties Read More »
The quickest way to put more money in your pocket is to reduce taxes. But if you’re a savvy taxpayer – or you have an experienced tax preparer on your side – there are a myriad of possible deductions that you can take advantage of that will keep more of your own money with you, …
Are you getting as much mileage out of your deductions as you could be? Read More »
*this transcript was taken from our Tax Tip Tuesday post on Youtube. You can watch the video here. Hey everyone. Welcome to another Tax Tip Tuesday. Today I’m going to be talking about health savings accounts. These are by far one of my favorite types of tax savings tools and if you’re eligible for which we’ll …
