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Taxpayers can Compare Eligibility and Benefits of Two Education Credits

The following article was published by the IRS. There are two education credits that can help taxpayers with higher education costs: the American opportunity tax credit and the lifetime learning credit. There are several differences and some similarities between them. Taxpayers can claim both benefits on the same return, but not for the same student or [...]

Child Tax Credit and Credit for Other Dependents

This video was published by the IRS. Many parents claim the Child Tax Credit to help with the cost of raising children. The credit can be $2000 per qualifying child. This credit applies if: The child is younger than 17 at the end of the tax year. You claim the child as a dependent. The child [...]

Tax Treatment for Family Members Working in the Family Business

The following article was published by the IRS. One of the advantages of someone running their own business is hiring family members. But when including family members in business operations, certain tax treatments and employment tax rules apply. Here are some facts to know when working with a spouse, parent or child. Both spouses carrying on [...]

How to Slash Every Monthly Bill You Have

There are dozens of different expenses and bills that can be a part of our monthly outflow that we hardly ever think about. Oftentimes we leave these expenses unattended without ever analyzing or even shopping them. This is a perfect time of year to look over your bills and see where you stand. First things first [...]

Important Things to Know about Refunds

The following article was published by the IRS. As tax filing season progresses, the Internal Revenue Service cautions taxpayers not to rely on receiving their refund by a certain date, especially when making major purchases or paying bills. Some tax returns may require additional review and those refunds may take longer. Many factors affect refund timing [...]