Tax Tips

Know These Facts Before Deducting a Charitable Donation
 

Know These Facts Before Deducting a Charitable Donation

Posted: March 20, 2017
If taxpayers gave money or goods to a charity in 2016, they may be able to claim a deduction on their federal tax return. Taxpayers can use the Interactive Tax Assistant tool, Can I Deduct my Charitable Contributions?, to help determine if their charitable contributions are deductible.

Check Out Tax Benefits for Higher Education
 

Check Out Tax Benefits for Higher Education

Posted: March 16, 2017
Higher education costs paid in 2016 can mean tax savings when taxpayers file their tax returns. If taxpayers, their spouses or their dependents took post-high school coursework last year, they may be eligible for a tax credit or deduction.

Don’t Miss These Overlooked Tax Deductions
 

Don’t Miss These Overlooked Tax Deductions

Posted: March 16, 2017
Even simple tax deductions can be overlooked. Stay informed about what you can deduct. The following points can help you see what you may be missing.

What is the Additional Medicare Tax?
 

What is the Additional Medicare Tax?

Posted: March 14, 2017
Some taxpayers may be required to pay an Additional Medicare Tax if their income is over a certain limit. The IRS would like people to know more about this tax.

Understanding the Child and Dependent Care Tax Credit
 

Understanding the Child and Dependent Care Tax Credit

Posted: March 14, 2017
The IRS urges people not to overlook the Child and Dependent Care Tax Credit. Eligible taxpayers may be able claim it if they paid for someone to care for a child, dependent or spouse last year.

Tax Returns: What Can Go Wrong?
 

Tax Returns: What Can Go Wrong?

Posted: March 10, 2017
As the 2017 tax deadline looms, filers are grappling with many issues from filing late to correcting mistakes. The good news is that the IRS has several remedies that can be taken.

Is It Just a Hobby or a Business?
 

Is It Just a Hobby or a Business?

Posted: March 10, 2017
While some of us put more time and effort into hobbies than others, determining the line between what is a hobby and what is a business can help keep you informed at tax time. Here are some points to consider.