No one likes to think about medical emergencies or hardships, but the truth is, many people will face a situation at some point in their lives where insurance does not begin to cover all of the expenses incurred from a health issue. During those situations, the IRS offers some relief to taxpayers in the formRead more about Medical Expenses and Your Taxes for the 2018 Filing Year[…]
We all know teachers spend their own money to ensure that their students classroom needs are met. This could be in the form of supplies, or supplemental materials or it might be through continuing education courses. A poll conducted by Scholastic shows that teachers in poverty stricken areas can spend more than $500 of theirRead more about Claiming the Educator Expenses Deduction[…]
Several changes took effect in 2018 that will affect taxpayers filing in the spring of 2019. Here’s what you need to know.
For those pursuing post-high-school education, the IRS offers two potential education tax credits that can reduce your tax liability and possibly even make you eligible for a refund. It’s important to know if these credits apply for you and your family. What are the types of education tax credits? The two credits are the AmericanRead more about Do You Qualify for Education Tax Credits?[…]
If you work for an employer who withholds income taxes for you, you may never have to worry about estimated taxes. However, estimated taxes are important to know about if you have self-employment income, either full- or part-time, because if you haven’t paid enough income tax during the year, you may be faced with aRead more about What You Need to Know About Estimated Taxes[…]