Olympic Gold Comes with a Tax Bill

us olympic gold medal and taxesThe United States has been doing pretty well in the 2016 Summer Olympics, held this year in Brazil. As usual, the United States leads the medal count, including for gold, helped along by great performances by the United States swim and women’s gymnastics teams.

But what happens after the Games end and the […]

August 16th, 2016|Tax News|0 Comments

5 Things You Should Know About Claiming the Child Care Tax Credit

child tax creditWe all know child care can get expensive. However, it’s sometimes necessary. If you are working and need help with child care, you can reduce some of the impact to your bottom line with the help of the child care tax credit.

Before you claim the child care tax credit, though, there are a few things you […]

3 Things You Should Know About Tax Audits

irs tax auditThe idea of a tax audit concerns many of us. And why wouldn’t it? The thought of the IRS coming after you, telling you that you owe more money and potentially garnishing your wages can be very daunting. Before you get too worked up about a tax audit, here are three things you should know:

1. […]

Energy Efficiency Tax Credits Still in Effect for 2016

energy-tax-credits-3A few years ago, the government announced that taxpayers could spend money to install energy efficient systems and receive tax breaks. Those tax credits have been set to expire for some time, but Congress has renewed them for another year. In some cases, the tax credits have been renewed for even longer.

If you want to save money with […]

Do Millionaires Really Leave States with Higher Taxes?

wealthy leave over taxes?One of the clarion calls of this year’s presidential election, at least in terms of what Bernie Sanders and Hillary Clinton say they will do if either is chosen as the Democratic nominee and then goes on to win, is raising taxes on the wealthy.

However, the other side of that argument is that higher […]