Did you make a charitable gift last year and are hoping for a tax break when you file your return? Here are the donation rules to secure a deduction.
Individuals
Your Weekly Read
Answers to your tax season questions
When will my 1099 forms arrive and when is the best time to file my tax return? Here’s the answer to these and other tax season questions you may have.
How to claim a medical expense tax deduction
Out-of-pocket medical expenses can cost you a bundle. Can you deduct these expenses on your tax return? The requirements and limits may make it difficult. Here are the rules.
4 ideas that may help reduce your 2023 tax bill
Before you know it, 2024 will be here. But until then, there may still be time to reduce your 2023 federal tax liability by taking these steps.
11 Exceptions to the 10% penalty on early IRA withdrawals
If you need cash, you may want to tap your traditional IRA. But if you’re not yet 59½, you may have to pay a penalty tax if you do. Here are 11 exceptions to the penalty.
What are the tax implications of winning money or valuable prizes?
There are tax implications if you hit a sizable jackpot in the lottery or while gambling. Here are the basic rules.
Contributing to your employer’s 401(k) plan: How it works
Does your employer offer a 401(k) plan, but you haven’t started participating? Here are the basic features of these plans to illustrate why you should strongly consider it.
Are scholarships tax-free or taxable?
If your child is fortunate enough to get a scholarship, is the amount taxable income? For some, yes, but there’s good news for most families.
Evaluate whether a Health Savings Account is beneficial to you
As health care expenses continue to grow, health savings becomes a larger priority for many individuals. A Health Savings Account can offer a tax favorable way to meet future medical needs.
Pocket a tax break for making energy-efficient home improvements
Making energy efficient home improvements may allow you a beneficial tax break.
Read something interesting? Want more information? Give us a call, and we will be happy to assist you in any way we can.
144 W 2nd St
Washington, NC 27889
Washington, NC 27889
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