Author Archives: taxblogger

Education Tax Credits, Part I

Here is a brief overview of the American Opportunity Tax Credit and how it can be a real benefit to help ease the burden of higher education costs. Continue reading →

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Money Tip – Investing 101 #4

Considering all the volatility over the last few weeks, here are some thoughts to consider investing today, that our parents may not have taught us.

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Clarification of Qualified Medical Deductions

Up until now, it has been unclear what medical expenses are eligible for a tax deduction. A strict reading of the prior rules seemed to indicate only expenses incurred to pay for “skilled” caregivers was a qualified expense.

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Don’t Miss the October 17 Deadline

If you need to file a Form 1040 (individual return), the deadline to file is October 17, 2011. Continue reading →

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Money Tip – Investing 101 #3

Here’s a lesson that the 2008-2009 Great Recession taught a lot of people:

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IRA Terms You Sould Know

There were a lot of discussions this recent tax season regarding the tax law changes on Roth conversions. Those conversations will likely continue this year, as some changes to your new Roth can be made through October 2011.
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Eight Tips About Rental Income and Expenses

If you rent property to others you’ll want to read the following eight tips about rental income and expenses.

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Don’t Forget: September 15th, 2011 Tax Payments Are Due

Don’t Forget: September 15th, 2011
Tax Payments Are Due
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Paying Wages to Your Children

Payments for the services of a child under the age of 18, who works for his or her parent in a trade or business, are not subject to Social Security, Medicare, and North Carolina Unemployment taxes, if the trade or business is a sole proprietorship or a partnership in which each partner is a parent of the child.
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Money Tips: Investing 101, #2

This week we continue our series on investing concepts. Continue reading →

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