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Hobby or For-Profit Activity? The Answer Makes A Dig Difference For Tax Purposes

Published on February 10, 2022

If you are engaged in an activity that produces income, the big tax question is…

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Twists and Turns of The Education Tax Credits

Published on February 10, 2022

If you have a child or children in college, or perhaps you or your spouse…

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Important Enhancements to Earned Income Tax Credit for 2021

Published on February 10, 2022

The earned income tax credit (EITC) is regarded as one of the government’s largest antipoverty…

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How Can a Nonworking Spouse Qualify to Fund an IRA

Published on January 6, 2022

One of the fallouts of the COVID-19 pandemic is that millions of people have dropped…

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Advance Child Tax Credit and EIP Must Be Reconciled on Your 2021 Return

Published on January 6, 2022

Early in 2021 Congress passed the American Rescue Plan which included a provision that increased…

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Tax Treatment of Reverse Mortgages

Published on January 6, 2022

With inflation on the rise and medical care costs escalating, what options do seniors have…

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2022 Standard Mileage Rates Announcement

Published on January 6, 2022

As it does every year, the Internal Revenue Service recently announced the inflation-adjusted 2022 optional…

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Tax-Free Gifting

Published on December 10, 2021

If you are fortunate enough to have an estate large enough to be subject to…

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Retroactive Termination of The Employee Retention Credit

Published on November 20, 2021

If you claimed the employee retention credit (ERC) in the fourth quarter of 2021, you…

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Tax Savings Ideas

10 – 2021 Tax Planning Strategies to Consider Before Year-End

Published on November 17, 2021

It seems hard to believe, but the holiday season is almost here and that means…

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