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Education

Gift Tax

Which Gifts Are Taxable & What Can Be Excluded Have you given or received a large gift? Do you know what the tax consequences are?…


Education Tax Credits for Back-to-School

Education tax breaks that can help save you money.If you pay for the cost of higher education for yourself, your spouse, or your dependent child,…


Important Tax Forms

IRS tax forms commonly used by individual taxpayers, including the W-2 and 1040 series.There are many different IRS tax forms that you may come across…


Tax Benefits for Education (Part 2)

2021-2022 Federal Education Tax Breaks for College Savings Plans   This article is second in a series titled “Tax Benefits for Education.” Read the first…


How to Determine Your Filing Status

When you fill out your income tax return, you must indicate on the form what your filing status is. There are 5 filing status options,…


Claiming Personal and Dependent Exemptions

When preparing your Federal income tax return, there are two different types of exemptions that you may be allowed to claim:Personal exemptions for yourself (and…


Tax incentives to send your college graduate to grad school

These days it is more likely than not that your college graduate will be either unemployed or at least underemployed for at least a couple…


How to save on taxes when your college grad moves back home

Qualify for the dependent exemption and deduct $3,800 from your earningsThe economy is better than it was, but not ideal, and the job market for…