News & Articles

2018 Income Tax Withholdings: Too Much, Too Little or Just Right?

Posted on Mon, Jan 21, 2019

Did you withhold enough money from your regular paychecks in 2018? If you withheld too little — or, didn't pay enough estimated taxes if you're self-employed — you could have an unpleasant surprise when you file your 2018 return.

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Tags: Tax Credits, Individual, Tax Cuts and Jobs Act (TCJA), Theft

Good News! More Families May Be Eligible for the Child Credit in 2018

Posted on Mon, Mar 05, 2018

The Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, 2017, made significant changes to the child credit. This credit is generally available to taxpayers with children under the age of 17, but the new law adds a new (smaller) credit for other dependents. Here are the details.

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Tags: Children, Tax Credits, Tax Cuts and Jobs Act (TCJA)

Bring Home a Tax Credit for Adoption

Posted on Wed, Aug 23, 2017

When you adopt a child, you could bring home more than a bundle of joy. You may also be in line for a valuable tax credit.

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Tags: Tax Credit, IRS, Tax Credits, Child expenses

Green Tax Breaks: Are You Claiming All the Credits You Deserve?

Posted on Wed, May 24, 2017

In recent years, the IRS has offered "green" tax credits to individuals who purchase qualifying residential energy-efficient equipment and certain electric vehicles. Some of these breaks expired at the end of 2016. But others are still ripe for the taking in 2017 and beyond. Here's what you need to know to take advantage.

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Tags: Vehicle, Tax Credits, Energy-Efficient

Tax-planning Opportunities For Parents, Students, Even Grandparents

Posted on Tue, Dec 03, 2013

If you're a parent, a student or even a grandparent, valuable deductions, credits and tax-advantaged savings opportunities may be available to you or to your family members. Some child- and education-related breaks had been scheduled to become less beneficial in 2013, but the tax-saving outlook is now brighter because the American Taxpayer Relief Act of 2012 (ATRA) extended most enhancements (in many cases, making them permanent).

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Tags: Tax-planning Opportunities, Hiring Your Children, CPA Firm, Articles, Echelbarger, EHTC, Tax Credits, Flexible Spending Account

Employers: Gain Extra Time to Claim the Work Opportunity Tax Credit

Posted on Mon, Mar 25, 2013

The IRS is giving employers extra time to file a form required to claim the Work Opportunity Tax Credit (WOTC) for eligible employees. Employers now have until April 29, 2013 to file the IRS form that is required to claim the valuable tax credit. This article has the details about the IRS relief and the steps an employer must take to claim the valuable credit.

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Tags: Corporate Income Tax, Tax Extension, IRS, CPA Firm, Articles, EHTC, Tax Credits

What Kinds of Tax Breaks are Available to Help Offset College Costs?

Posted on Thu, Mar 21, 2013

Good news! The college costs you pay may qualify for at least one tax break. Here is a rundown of what is available.

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Tags: Michigan State and Local Tax (SALT), Tax, CPA Firm, Articles, EHTC, Tax Credits

6 Tax Breaks for 'Going Green'

Posted on Tue, Nov 13, 2012

Concerned about global warming and other environmental challenges? Many businesses are getting on board the green train. Besides being socially responsible, businesses and employers may derive some tax benefits for going green. Here are six examples:

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Tags: Accounting, Tax, Tax Benefits, Environmentalists, business consulting, Tax Credits