If you're bummed about the elimination of the personal exemption, don't forget that you do have some good news to fall back on. The Child Tax Credit has been doubled to $2,000 per child (it was $1,000 in 2017).

August 2018

Zero in on problem accounts

A new credit for small business owners

Starting this year, employers can take advantage of a new credit for paid family and medical leave created by the Tax Cuts and Jobs Act.

• IRS Announces Annual Tax Scams
• Inherited Property: A Matter of Value
• Avoid this potential tax headache
• The Right Ingredients to Improve Your Credit Score
• Seven Common Retirement Account Mistakes

 This month:

• March 12^th:
• Daylight Savings Time Begins
• March 15^th:
• Due Date for 1120, 1120S Corp. Tax Returns

Since 2006 there has been a provision in the tax code to incent taxpayers to purchase and install property that make their home more energy efficient. This part of the code does not tend to be in the press much because the Nonbusiness Energy Property Credit has a lifetime limit of $500.

How to tell you have credit card problems

If you're living beyond your means, you could be courting financial disaster. Here are some indicators that you need to get your credit card usage under control.

* Your income's dwindling but your credit card balances keep growing. Lost your job but can't seem to reign in those charge cards? Don't be surprised when the bill collectors come calling.

Review your credit policies

There are many ways to make your business more profitable, and sound credit policies are high on the list. The current slowdown in the economy is a good reason to reexamine your company's policies. Keep the following items in mind as you review your policies.

Premium Tax Credit: Upcoming Tax Surprise?
Here is a quick quiz to see if you are at risk

Based upon a recent report given to the Federal government evaluating data inconsistencies with the new health insurance market exchanges, over a million taxpayers could owe the government money at tax time. Here is a quick quiz to see if this risk applies to you.

Q1. Did you apply for health care insurance on either the new Federal Marketplace or a state run insurance exchange?

Health insurance tax credits are good medicine for small businesses

Small businesses may be missing out on an important new tax perk related to health insurance. And the stakes are even higher in 2014.

Parents can cut taxes with child-related credits

Are you a parent? Give yourself some credit – a child-related tax credit, that is. Here are two that can reduce your 2013 federal income tax liability.

Get 'extra credit' for your kids in college

The price tag on a college diploma keeps going up, but at least you might be able to salvage some tax benefits if you're paying the tab.

An Example: If your child is attending college this fall, you may have a chance to claim an enhanced tax break for higher education expenses.