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Where’s My Tax Refund?

For many Americans, tax refunds are typically spent before they are received. We anticipate a tax refund and the next thing we know, we're planning a vacation or buying a new car or furniture. Some [...]

By | February 21st, 2017|Comments Off on Where’s My Tax Refund?

Are Social Security Benefits Taxable?

If taxpayers receive Social Security benefits, they may have to pay federal income tax on part of those benefits. These IRS tips will help taxpayers determine if they need to do so. Form SSA-1099.  If [...]

By | February 13th, 2017|Comments Off on Are Social Security Benefits Taxable?

Five Things to Know About the Child Tax Credit

The Child Tax Credit is a tax credit that may save taxpayers up to $1,000 for each eligible qualifying child. Taxpayers should make sure they qualify before they claim it. Here are five facts from [...]

By | February 8th, 2017|Comments Off on Five Things to Know About the Child Tax Credit

Early Withdrawals from Retirement Plans

Many people find it necessary to take out money early from their IRA or retirement plan. Doing so, however, can trigger an additional tax on top of income tax taxpayers may have to pay. Here [...]

By | February 7th, 2017|Comments Off on Early Withdrawals from Retirement Plans

How Exemptions and Dependents Can Reduce Taxable Income

Most taxpayers can claim an exemption for themselves and reduce their taxable income on their tax return. They may also be able to claim an exemption for each of their dependents. Each exemption normally allows [...]

By | January 31st, 2017|Comments Off on How Exemptions and Dependents Can Reduce Taxable Income