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One-minute answer

Alimony That Is Not Taxable

Family & education

The Tax Cuts and Jobs Act of 2017 eliminated the deduction of child support and alimony. Alimony being the main one child support hasn't been a deduction for…

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One-minute answer

Year-End Tax Planning Tips

Bookkeeping & payroll

Year-end tax planning tips. Let's do it. Do a trial run on your taxes just to see if you have enough money coming out. Your W4 may need…

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Tax Rates and Preparing for the 2021 Tax Year

Deadlines & filing

We are starting to prepare for the 2021 tax year. And remember we still have the same tax rates which basically is 10% all the way up to…

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Benefits of Opening An IRA For Your Kids

Family & education

IRA for kids. Let's say your kid goes out and starts cutting grass or doing something outside the household in which they are earning money. Remember they can…

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Exclusions for Educational Expenses

Family & education

Kids are going to go to college, guys, at least we hope so. And what we want to be able to do is find out where are the…

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Maximize Your Taxes With Student Loan Interest

Family & education

Student loan interest. This can be a tricky thing because a lot of times parents have actually gotten the loans for the kids because they wanted to help…

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One-minute answer

Child Tax Credits – The American Rescue Plan

Deductions & credits

Child tax credits on the American Rescue Plan we call the ARP act of 2021. They temporarily expanded the child tax credit for allowable families to claim the…

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