Using Children’s IRAs to Pay for College If your child has earned income (maybe from working in your business), you may want to consider establishing an IRA for your child. The IRA funds can, in turn, be used to help pay your child’s college expenses. When your child...
Clean vehicle credits can help car buyers pay less at the dealership RS Tax Tip 2023-123, Nov. 15, 2023 Taxpayers who buy a qualifying new or used clean vehicle may be able to transfer their tax credits to the dealer in exchange for a financial benefit – such as a...
2021 Last-Minute Year-End Retirement Deductions The clock continues to tick. Your retirement is one year closer. You have time before December 31 to take steps that will help you fund the retirement you desire. Take a few minutes to review the four retirement plan...
Don’t Miss Out on the Employee Retention Credit Your government wants your small business to survive (and likely thrive, too). Since COVID-19 struck, the government has created free and/or easy money in the form of tax credits and loans that are...
2020 Last-Minute Year-End Tax Strategies for Tax Code Offset When you take advantage of the tax code’s offset game, your stock market portfolio can represent a little gold mine of opportunities to reduce your 2020 income taxes. The tax code contains the basic rules...
New Stimulus Law Grants Eight Tax Breaks for 1040 Filers The new, massive stimulus bill enacted into law on December 27, 2020, contains eight new tax breaks designed to help the non-business taxpayer. None of these tax breaks are earthshaking by themselves, but...
