Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of…
You may be able to reduce your taxes if you made certain energy-efficient home improvements last year. Here are some key facts that you should know about home energy tax credits. Non-Business Energy Property Credit This credit is worth 10 percent of…
Ingredients 1 cup HERSHEY’S Mini Chips Semi-Sweet Chocolate CHOCOLATE DRIZZLE (recipe follows) 1/3 cup packed light brown sugar 1 teaspoon vanilla extract 2 cups all-purpose flour 1 cup(2 sticks) butter or margarine, softened 1/3 cup granulated sugar 48 HERSHEY’S…
If you are looking for a tax deduction, giving to charity can be a ‘win-win’ situation. It’s good for them and good for you. Here are eight things you should know about deducting your gifts to charity: 1. You must donate…
The Internal Revenue Service today provided taxpayers an extension until Oct. 15, 2014 to decide when to claim disaster losses arising from last September’s flooding. The extension means that eligible individuals and businesses will now have until Oct. 15 to…
Did you, your spouse or your dependent take higher education classes last year? If so, you may be able to claim the American Opportunity Credit or the Lifetime Learning Credit to help cover the costs. Here are some facts from…
[su_row][su_column size=”2/3″]If you are an independent contractor or run your own business, there are a few basic things to know when it comes to your federal tax return. Here are six tips you should know about income from self-employment: Self-employment…
There are a few basic tips to keep in mind about the new health care law. Health insurance choices you make now may affect the income tax return you file in 2015. 1. Most people already have qualified health insurance…
[two_third]If you contribute to a retirement plan, like a 401(k) or an IRA, you may be eligible for the Saver’s Credit. The Saver’s Credit can help you save for retirement and reduce the tax you owe. Here are five facts…
Some people must pay taxes on part of their Social Security benefits. Others find that their benefits aren’t taxable. If you get Social Security, the IRS can help you determine if some of your benefits are taxable. Here are seven…