Tax Advantages Available for Higher Education
If you or your children are attending college this fall, consider talking to your tax adviser about any federal income tax credits you may be eligible for.
Hobbies, For-Profit Activities and Deductions
The IRS will look at several aspects and issues before determining if your hobby is a for-profit business. Read all about it in this Business Tip.
Mandatory Health Insurance Will Begin in 2014
In 2014 Americans, with certain exceptions, are required to have minimal, essential health care insurance. Read more in this Tax Strategist.
Congress Puts Lid On Health Flexible Spending Arrangements
As a way to partially pay for provisions in the new health care law, put a cap of $2,500 on FSA contributions. Read more in this Tax Tip.
A Primer on Required Minimum Distributions
We answer a listener’s question on helping his mom coordinate her required minimum distribution.
529 Plan Withdrawal Strategy
Hosts discuss the strategy involved when withdrawing from your 529 Plan for education expenses.
Gifting for Education Expenses
Tuition payments to a qualified educational institution are exempt from the gift tax rules. This means that you, a grandparent, or anyone can gift a child $14,000 and also pay their college tuition. Learn more in this Tax Tip.
Premium Assistance Credit—The Health Insurance Subsidy For Lower Income Individuals and Families
Congress included a tax credit in the health care law to help lower income individuals pay for their health insurance. Learn more in this Tax Tip.
Home Office Deduction Rules Get a Remodel
Who is eligible for a home office deduction is still complicated, but how the deduction is calculated has become easier. Read more in this Business Tip.
Documenting Charitable Contributions
Placing a bill or two in your church’s collection plate? Better get a receipt if you want a tax deduction. Learn more in this Tax Tip.