Tax Rules for Children With Investment Income

Archive for August 2015

Tax Rules for Children With Investment Income

Children who receive investment income are subject to special tax rules that affect how parents must report a child’s investment income. Some parents can include their child’s investment income on their tax return while other children may have to file their own tax return. If a child cannot file his or her own tax return…

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Eight Ways Children Lower Your Taxes

Got kids? They may have an impact on your tax situation. Here are eight tax credits and deductions that can help lower your tax burden. Dependents: In most cases, a child can be claimed as a dependent in the year they were born. Be sure to let us know if your family increased this year…

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Identity Theft and Your Taxes

Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. It presents challenges to individuals, businesses, organizations and government agencies, including the IRS. Learning that you are a victim of identity theft can be a stressful event and you may not be aware that…

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Tax Planning for Small Business Owners

Tax planning is the process of looking at various tax options to determine when, whether, and how to conduct business and personal transactions to reduce or eliminate tax liability. Many small business owners ignore tax planning. They don’t even think about their taxes until it’s time to meet with their accountants, but tax planning is…

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Changing Jobs? Don’t Forget Your 401(K)

One of the most important questions you face when changing jobs is what to do with the money in your 401(k). Making the wrong move could cost you thousands of dollars or more in taxes and lower returns. Let’s say you put in five years at your current job. For most of those years, you’ve…

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