Adopting a child can be expensive. Fortunately, the adoption tax credit may be available for many parents to take advantage of.
dependents
Your Weekly Read
Saving for college: Tax breaks and strategies your family should know
There are some tax-savvy ways to build education savings and pay for college. Here’s how to help maximize education funds.
Unlock your child’s potential by investing in a 529 plan
College costs have gone up sharply, so starting to save early is a smart move. One option is to invest in a tax-advantaged 529 plan.
The nanny tax: What household employers need to know
In 2024, if you pay a household worker cash wages of $2,700 or more, you must withhold and pay nanny tax. What will the threshold be in 2025?
Six tax issues to consider if you’re getting divorced
Getting a divorce can be an agonizing process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are six issues to consider if you’re getting a divorce.
You may be entitled to tax breaks if caring for an elderly relative
If you’re caring for an elderly relative, you may be entitled to some tax breaks. Here are four of them.
Filing jointly or separately as a married couple: What’s the difference?
Is it better for a married couple to file a joint tax return or file separately? It depends. Here’s a look at the issue.
New option for unused funds in a 529 college savings plan
It’s not unusual for parents to end up with unused funds in their children’s 529 college savings plans. There’s a new option that allows them to transfer unused funds in a 529 plan to a Roth IRA. Here are the details.
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.
You may be eligible to use more than one filing status
When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax return. When filing a return, you do so with one of five tax filing statuses. In part, they depend on whether you’re...
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Washington, NC 27889
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