Sending your kids to day camp may provide a tax break

When school lets out, kids participate in a wide variety of summer activities. If one of the activities your child is involved with is day camp, you might be eligible for a tax credit! Dollar-for-dollar savings Day camp (but not overnight camp) is a qualified expense under the child and dependent care credit, [...]

By | 2018-05-23T15:01:23+00:00 May 23rd, 2018|Tax|Comments Off on Sending your kids to day camp may provide a tax break

Can you deduct business travel when it’s combined with a vacation?

At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound appealing. But tread carefully, or you might not be eligible for the deduction you’re expecting. General [...]

By | 2018-05-16T14:17:18+00:00 May 16th, 2018|Business, Tax|Comments Off on Can you deduct business travel when it’s combined with a vacation?

Do you need to adjust your withholding?

If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But a large refund isn’t all positive. It also means you were essentially giving the government an interest-free loan. That’s why a large refund for the previous tax year would usually indicate that [...]

By | 2018-05-09T09:39:02+00:00 May 9th, 2018|Tax|Comments Off on Do you need to adjust your withholding?

3 ideas for recruiting nonprofit volunteers

Most charitable not-for-profits have a never-ending need for volunteers. But finding new ones can be time-consuming — and volunteer searches aren’t always successful. Here are three recruitment ideas that can help. 1. Look nearby Is your nonprofit familiar to businesses, residents and schools in the surrounding community? People often are drawn to volunteer [...]

By | 2018-05-02T15:38:21+00:00 May 2nd, 2018|Not For Profit|Comments Off on 3 ideas for recruiting nonprofit volunteers

Tax record retention guidelines for individuals

What 2017 tax records can you toss once you’ve filed your 2017 return? The answer is simple: none. You need to hold on to all of your 2017 tax records for now. But it’s the perfect time to go through old tax records and see what you can discard. The 3-year and 6-year [...]

By | 2018-04-25T10:53:33+00:00 April 25th, 2018|Tax|Comments Off on Tax record retention guidelines for individuals

Individual tax calendar: Important deadlines for the remainder of 2018

While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need to be aware of. To help you make sure you don’t miss any important 2018 deadlines, here’s a look at when some key [...]

By | 2018-04-18T11:04:15+00:00 April 18th, 2018|Tax|Comments Off on Individual tax calendar: Important deadlines for the remainder of 2018

Haven’t filed your 2017 income tax return yet? Beware of these pitfalls

The federal income tax filing deadline is slightly later than usual this year — April 17 — but it’s now nearly upon us. So, if you haven’t filed your individual return yet, you may be thinking about an extension. Or you may just be concerned about meeting the deadline in the eyes of [...]

By | 2018-04-11T11:49:51+00:00 April 11th, 2018|Tax|Comments Off on Haven’t filed your 2017 income tax return yet? Beware of these pitfalls

Finding a bookkeeper for your nonprofit

Looking for the perfect bookkeeper is something like looking for an ideal mate. You’ll want to think hard about your organization’s needs before you start searching for, and commit to, the person who’ll handle your day-to-day accounting functions. Define the role Before advertising the position, define the role. Crafting a detailed job description [...]

By | 2018-04-04T10:41:40+00:00 April 4th, 2018|Not For Profit|Comments Off on Finding a bookkeeper for your nonprofit

Can you claim your elderly parent as a dependent on your tax return?

Perhaps. It depends on several factors, such as your parent’s income and how much financial support you provided. If you qualify for the adult-dependent exemption on your 2017 income tax return, you can deduct up to $4,050 per qualifying adult dependent. However, for 2018, under the Tax Cuts and Jobs Act, the dependency [...]

By | 2018-03-27T10:19:52+00:00 March 28th, 2018|Tax|Comments Off on Can you claim your elderly parent as a dependent on your tax return?

Home-related tax breaks are valuable on 2017 returns, will be less so for 2018

Home ownership is a key element of the American dream for many, and the U.S. tax code includes many tax breaks that help support this dream. If you own a home, you may be eligible for several valuable breaks when you file your 2017 return. But under the Tax Cuts and Jobs Act, [...]

By | 2018-03-21T11:34:24+00:00 March 21st, 2018|Tax|Comments Off on Home-related tax breaks are valuable on 2017 returns, will be less so for 2018
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