by Suzanna Grenader | Sep 20, 2017 | Federal taxes, State taxes, Tuition
The tuition and fees deduction expired last year. Fortunately, you may still be able to benefit from other education tax benefits, including the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit. Take a look at the highlights below to better...
by Suzanna Grenader | Jun 27, 2017 | Federal taxes
Is your child thinking about taking on a job for extra money this summer? If so, both of you may have questions about taxes. The following are a few tax tips to help you prepare. For 2017, your child can earn as much as $6,350 and not pay federal income tax. If your...
by Suzanna Grenader | May 24, 2017 | Federal taxes
Who have you designated as beneficiaries for your insurance policies and retirement accounts? If you can’t remember, it’s worth checking. If you make the wrong decision, it could affect who inherits those assets. Here are some key facts about beneficiary...
by Suzanna Grenader | May 22, 2017 | Federal taxes
What happens when you discover you made a mistake on your 2016 return that you just filed? First, don’t panic, and second, don’t ignore the error. Do file an amended return if you need to change your tax filing status or dependency exemptions, or you...
by Suzanna Grenader | May 17, 2017 | Federal taxes
If you received a large tax refund or owed a large balance on your 2016 income tax return, it may be time for you to check your withholdings. Try to calculate your tax withholding to be as close to the actual amount of your tax liability at the end of the year. This...
by Suzanna Grenader | May 15, 2017 | Federal taxes
Gift giving can be an important tax planning strategy. But before you write checks, learn the rules. Here are two of them: The person receiving your gift does not have to file a return, no matter the amount. When you give gifts up to $14,000 ($28,000 for a married...
by Suzanna Grenader | May 10, 2017 | State taxes
Even though tax season is over, you may still be eligible to receive a rebate of up to $975! Older adults and people with disabilities living in Pennsylvania can apply to receive a rebate on rent and property taxes paid in 2016 using the PA-1000. The rebate program...
by Elliot Hershman | Apr 28, 2017 | Federal taxes
Excerpted from this New York Times article Here are the most important changes in the US federal tax system proposed Wednesday 4/26/17 by President Trump. Three tax brackets; 10 percent, 25 percent and 35 percent. That lowers the top rate by nearly 5 percent. Double...
