COVID-19: IRS announces more tax relief for individuals

Apr 15, 2020 | Individuals

In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a range of relief. Here are some new announcements made by the IRS. More tax...

Adopting a child? Bring home tax savings with your bundle of joy

Feb 17, 2020 | Individuals

If you’re adopting a child, or you adopted one this year, there may be significant tax benefits available to offset the expenses. For 2019, adoptive parents may be able to claim a nonrefundable credit against their federal tax for up to $14,080 of “qualified adoption...

What filing status are you eligible to use on your income tax return?

Dec 16, 2019 | Individuals

For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on your tax return for the year. When you file your return, you do so with one of five filing statuses, which depend in part on whether...

Save for a disabled family member with tax-advantaged ABLE account

Nov 18, 2019 | Individuals

There’s a tax-advantaged way for people to save for the needs of family members with disabilities without having them lose eligibility for government benefits to which they’re entitled. It can be done through an Achieving a Better Life Experience (ABLE) account, which...

Protecting youth sports leagues from fraud

Nov 4, 2019 | Nonprofits

Who would defraud a kids’ organization? The answer, unfortunately, is that trusted adults sometimes steal from not-for-profits benefiting children. Youth sports leagues and teams are ripe for fraud. Cash transactions are common, and coaches and board members usually...