10 YEAR END TAX TIPS for 2015

PLAN AHEAD TO SAVE MONEY  Charitable Donation Records If you claim a charitable deduction of more than $500 in donated property, you must document the donations on your tax return. If you are claiming a deduction of $250 or more in a single donation, you will need a written acknowledgement … [Read more...]

COLLEGE TAX CREDITS FOR 2015

Grad_hat_money

IT’S BACK-TO-SCHOOL TIME AND THE IRS WANTS TO REMIND FAMILIES OF THE COLLEGE TAX CREDITS AVAILABLE Here are two major education tax breaks, an explanation of who qualifies for each, and how to figure out which will save you the most money. The American Opportunity Tax Credit The AOTC is … [Read more...]

Standard Deductible Mileage Rates 2013

gas-tank-560

Deductible Mileage Rates Deductible mileage rates change each year on January 1st. For 2013, the IRS announced the business mileage rate as 56.5 cents per mile and 24 cents per mile for medical miles. The business and medical rates are a one-cent per mile increase from 2012. The charitable miles … [Read more...]

Year End Tax Saving Tips

tax-saving-time

Year End Tax Saving Tips As the year comes to a close, there are several tax saving strategies that could possibly help save you money when you prepare your tax return. Please note that these tax saving strategies will not apply to everyone and there are many other options not listed in this … [Read more...]