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Author: taxsecretsblog

Twists and Turns of the Education Tax Credits

Article Highlights: American Opportunity Tax Credit Lifetime Learning Credit Refundable Credit Which Credit to Take Post-secondary Education 3-month Rule Maximizing the Credit Qualified Expenses Who Claims the Credit Qualified Educational Institutions Gift Tax Issues If you have a child or children in college, or perhaps

Is there a Tax Break for Tuition Paid to Special Schools?

Article Highlights: Medical Deduction Tuition To Treat Learning Disabilities is Deductible Special Teaching Techniques Private Letter Rulings A component of itemized deductions is the cost of medical care. The total of eligible medical expenses paid during the tax year is reduced by 7.5% of the

What’s Next for the Child Tax Credit?

December 15th, 2021 marked the last deposit date for the child tax credit payment expanded under the American Rescue Plan (ARP). Though many had hoped the program would be continued, political leaders are struggling to find a way forward that makes the majority of Congress

What’s Next for the Child Tax Credit?

December 15th, 2021 marked the last deposit date for the child tax credit payment expanded under the American Rescue Plan (ARP). Though many had hoped the program would be continued, political leaders are struggling to find a way forward that makes the majority of Congress

February 2022 Individual Due Dates

February 4 - Tax Appointment If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you. February 10 - Report Tips to Employer If you are an employee who works for tips and

How Small and Medium-Sized Business Funding Works

Entrepreneurs have plenty of ideas and vision, but they don’t always have the capital that’s needed to make their dreams a reality. Small and medium-sized businesses that want to grow beyond what they’re able to accomplish with their own resources often seek funding from investors