Saver’s Credit Can Help You Save for Retirement

Saver’s Credit Can Help You Save for Retirement

Article Highlights: Benefits Eligible Taxpayers Rules for Students, Dependents of Others and Individuals Under the Age of 18 Due Date for Contributions Low- and moderate-income workers can take steps to save for retirement and earn a special tax credit. The...
Defer Taxes with Installment Sales

Defer Taxes with Installment Sales

Selling a property one has owned for a long period of time will frequently result in a large capital gain, and reporting all the gain in one year will generally expose the gain to higher-than-normal capital gains rates and subject the gain to the 3.8% surtax on net...
Did You Overlook Something on a Prior Tax Return?

Did You Overlook Something on a Prior Tax Return?

It is not uncommon to discover that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after the tax return was already filed. Regardless of whether the oversight will result in more tax due or a refund, it...
Eldercare Can Be a Medical Deduction

Eldercare Can Be a Medical Deduction

Because people are living longer now than ever before, many individuals are serving as care providers for elderly loved ones (such as parents or spouses) who cannot live independently. Such individuals often have questions regarding the tax ramifications associated...