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February 2, 2015
Beginning in 2014, the Individual Shared Responsibility provision of the Affordable Care Act takes effect. This means that each and every taxpayer (and family member) is now required to maintain basic health insurance, also called “...
January 30, 2015
Spring has arrived and April 15 will be here before we know it, but many of us won’t be ready to file our tax returns in less than a month.
Thankfully, the IRS allows taxpayers to request an extension of time to file, as long as the...
January 27, 2015
Saving for your retirement through individual retirement accounts (IRAs) can have a significant impact on your taxes. IRAs are designed to give people incentive to save for their retirement, potentially offering greater tax benefits over other...
January 22, 2015
January 20, 2015
A tax credit is a dollar-for-dollar reduction in the amount of tax that you owe. For example, a $500 tax credit will save you $500 in taxes.
On the other hand, a tax deduction merely reduces your...