Kids Turning 17?

There are many milestones and life changes that can affect your tax returns.
For instance, if you have a dependent child turning 17 this year, the $2,000 child
tax credit you have received previously will end.
It’s always a good idea to review your tax situation well in advance of the end
of the year to determine if there are any changes that may affect your return.
Feel free to contact us for an appointment.

Unreimbursed expenses?

Get out your wallet. Did you know that employees can no
longer deduct unreimbursed work-related expenses?  There are a few
job category exceptions, but you might want to see what’s been
eliminated before you enroll in that professional development course.
See our Tax Tips & News post for more.

Head of Household or Single filing status?

Many single parents can claim Head of Household and receive a much better
tax benefit by having a dependent child. However, when your child is no
longer your dependent your filing status changes to Single. Unfortunately,
that translates to a smaller Standard Deduction and higher income tax rates.
Let us know if you’d like to review your personal situation.

The IRS didn't call you.

The truth is, the IRS will never call you to demand payment and threaten legal action, but this scam frightens people into giving their money to criminals.

Find out more about this and other IRS scams on our Tax Tips & News page.

Retirement Cash Strategy

Did you know an extra IRA distribution could reduce the amount of your Social Security benefit?

It’s surprising but true. We explain how it can happen on our Tax Tips & News page.

Have you checked out 360 yet?

We found this incredible website that we want to share with you!

360 Degrees of Financial Literacy features straightforward language and easy-to-use calculators for everything from student loans to retirement planning.

Excerpts from Our Tax Tips & News Pages

Payroll Withholding Calculator

The IRS has an online tool for helping you determine if you are claiming the correct withholding. You will need information from your pay stub and other documents before you start.

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Unreimbursed employee expenses? Get out your wallet.

Last fall we gave you a heads up on one of the significant impacts of the Tax Cuts and Jobs Act for 2017: the loss of itemized miscellaneous deductions for employees. The IRS issues Publication 529 as a guide outlining what is deductible—and what's not—under current...

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