Enhanced tax credit will defray child care costs for some taxpayers
Taxpayers who have child care expenses will see an improved tax benefit for 2021, thanks to an credit included in the new American Rescue Plan Act (ARPA).
Employee Retention Tax Credit Expanded
Among the provisions of the Covid-19 relief legislation enacted in late December 2020 is a significant expansion of the Employee Retention Tax Credit (ERTC).
Qualifiying for the medical expense tax deduction requires planning and timing
Carol A. Magyar, CPA, MST Tax Director Many medical expenses are deductible on your federal tax return, but the rules governing this type of deduction make it difficult for some taxpayers to qualify. However, proper planning and timing of discretionary expenses may...Understanding distributions from your traditional IRA
Withdrawing from your traditional IRA requires planning and understanding of how the distributions work.
Do those old tax records really spark joy? What to keep, what to toss
What tax records should be kept and what can be shredded and tossed?