Family and Taxes

 

The Latest

  • October 22, 2014

    The Earned Income Tax Credit (EITC or EIC), which has been around since 1975, essentially provides a subsidy for low-income working families. To claim this tax credit, you must meet certain eligibility...

  • October 16, 2014

    When you’re getting married, taxes are probably the last thing you want to think about. However, it is still important to understand the tax consequences of marriage. This article explains some basic tax considerations for newlyweds.

    Name and...
  • October 7, 2014

    Have you given or received a large gift? Do you know what the tax consequences are? You may be subject to the 40% Federal Gift Tax.

    According to the IRS, a gift is "Any transfer to an individual, either directly or indirectly, where full...

  • September 5, 2014

    Are you trying to determine whether or not all of your income is taxable? While the IRS considers most types of income to be fully taxable, there are certain instances where your income may not be subject to tax.

    Taxable Income...

  • August 10, 2014

    As many are still recovering from the Great Recession, the idea of having income (or even excess income) subject to tax is the last thing people want to think about. 

    Generally, tax law defines income as “undeniable accessions to wealth”...