4 Ways Obamacare Impacts Your Taxes

The Affordable Care Act (ACA, or Obamacare if you prefer) has probably had a significant impact on your health insurance. Did you realize that Obamacare has had an effect on your taxes as well? Here are a few of the tax ramifications of the ACA. Individual Mandate – If you are aware of only one…
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Tax Scams Increase As April 18th Approaches

by Amy King, Tax Professional The IRS releases a list of the top tax scams every year to warn taxpayers and to remind them to be diligent in keeping their personal information safe. Some of these issues are fairly common, such as identity theft, but others are more specific to the IRS and taxes. Specifically,…
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Writing Off The Kids

How to Determine Dependents to Maximize Tax Savings Did your kids get a taste of the real world and decide that living off Mom and Dad was not so bad after all? Cheer up… you may still be able to claim them as dependents on your taxes. Dependents can save money on your taxes in…
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Does Your State Charge A Tax To Access The Internet?

Have you realized that if you live in certain states your access to the Internet is subject to state taxes? The Internet Tax Freedom Act (ITFA) was enacted in 1998 to delay any special taxation of access to the Internet, as advocates feared that excessive or burdensome taxation would harm the growth and utility of…
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Show Love Save Money

Tax Benefits of Caring for an Aging Relative Caring for an elderly relative can be rewarding, but incredibly difficult – as well as expensive. However, it may be possible to recoup some of the costs through income tax savings. There are three general approaches to tax savings on elder care costs – declaring your elderly…
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