November and December are open season for most health insurance plans. It is important to consider now whether you need to cover your young adult in your family plan. Your employer should notify you of open season for the employer plan. If your employer does not offer a plan or you do not have insurance […]
Great question! A tax credit lowers your tax bill dollar for dollar. If it is a refundable credit, such as the Earned Income Credit and the Hope education credit, it can also result in a refund when you owe no tax. The deduction reduces your taxable income, which is amount on which you pay taxes. […]
A client recently made me aware that there was no place in Tax Talk to ask questions. So here you are. ~ !! Disclaimer: To comply with IRS requirements, please be advised that any tax advice contained in these answers is not intended or written to be used, and cannot be used, by the reader […]