Scammers commonly set up fake charities to take advantage of people’s generosity during natural disasters and other tragic events. Taxpayers should use the Tax Exempt Organization Search tool to check that an organization is legitimate before they...
Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible to save money on their taxes. Here are the tax incentives for employers who provide accommodations for people with disabilities. Disabled...
The Internal Revenue Service today reminded taxpayers the deadline to submit their third quarter estimated tax payment is Sept. 16, 2024. The IRS also reminded taxpayers affected by disasters in 17 states, Puerto Rico and the Virgin Islands that they may...
An educational assistance program is an employer’s written plan to provide employees with undergraduate or graduate-level educational assistance. These programs allow employers to pay student loan debt and other education expenses tax-free. Eligible...
There are two education tax credits designed to help offset education costs: the American Opportunity Tax Credit and the Lifetime Learning Credit. Eligibility requirementsFor both tax credits, to be eligible: The taxpayer, their spouse or...
Many working parents arrange for care of their younger children under age 13 during the summer. A popular solution is a day camp program, which can sometimes also lead to a tax benefit. Taxpayers who pay for the care of a child, or other qualifying person, so they...
It is never too early to begin planning for retirement. Individual retirement accounts provide tax incentives for people to make investments that can provide financial security when they retire. These accounts can be with a bank or other financial institution, a life...
The amount individuals can contribute to their 401(k) plans in 2023 will increase to $22,500 -- up from $20,500 for 2022. The income ranges for determining eligibility to make deductible contributions to traditional IRAs, contribute to Roth IRAs, and claim the Saver's...
An IRA known as an individual retirement account is a tool used to build retirement savings. IRAs offer direct access to investments, in addition to tax advantages. Many individuals are aware of these accounts but are not sure which option is most optimal for their...
October is financial planning month. During this month I would like to bring awareness to a few key tips that, if done, will assist you in achieving a financially successful 2021. MINIMIZE EXPENSES Reducing expenses is one of the hardest tips to do as it requires a...
