January 2014

pstrongIf you incurred a significant amount of healthcare and dental cost costs last year, you may be eligible for a deduction when making your itemized deductions./strong/ppThere are several things that you can deduct provided your healthcare costs were over at least ten percent of your yearly gross income:/pulliSurgeries/liliHospital Stays/liliPr

pstrongIf you’re taking care of a parent in their sunset years, you may be able to claim them as a dependent./strong/p pIt doesn’t have to be a parent per se, it can be a family member that you are giving care to. It can be a family member such as an aunt or uncle./p

pstrongDid you invest in making your home more energy efficient last year? If so, you may qualify for a tax credit./strong/p

pstrongIf you’re self-employed, there’s a treasure trove of expenses you can deduct./strong/p pThere are all sorts of expenses you can deduct as a result of being self-employed. It’s important to note that even if you’re a full-time employee at a company but have a business on the side you can still deduct those expenses./p

pstrongBudgeting the same for all the months is a pitfall. Here’s some things unique to January that you should be budgeting for./strong/p dl dtstrongChristmas/strong/dt

pstrongReceiving a notice from the IRS can be daunting. Here’s some facts to eliminate the fear of the unknown./strong/p pThere are a multitude of reasons the IRS sends notices to millions of taxpayers per year./p pMore times than not, a notice sent by the IRS is specific to one issue. The most common reasons are:/p ul liRequest for Payment/li

pstrongChildren may raise your blood pressure but they can lower your taxes. Here’s how:/strong/p pDepending on your situation, there are a few ways children can lower your taxable income./p ulliFor children under seventeen, you may be eligible for the Child Tax Credit or the Additional Child Tax Credit./li

pstrongDealing with unfiled past taxes isn’t as stressful as it you might think./strong/p