Financial Planning Insights

It’s everyone’s favorite time of year - tax return season! Do you know how President Trump’s 2018 tax reform is going to affect you if you are a parent claiming dependents on your taxes? If you have young children or other dependents, there is a good chance you are eligible for the Child Tax Credit. This credit could reduce your federal income tax..

What is the Earned Income Tax Credit?

While another tax season has now passed, it is never too early to start planning for next year's taxes. In particular, as a small business owner, you will want to make sure that you take advantage of all of the tax deductions available to small business owners for business expenses. While the IRS offers a fairlyin-depth guideon deducting..

Are you thinking about filing your own tax return this year? Although it's true you will initially save money by doing them yourself, it may cost you more in the long run than if you had hired a tax professional in the beginning. If your taxes are inaccurate or incomplete, it will take the Internal Revenue Service longer to process your return..

Making your way through paper tax forms is a headache under the best of circumstances. But it also means there is no system in place to make sure you're getting all of the deductions and credits you deserve. While the IRS can make corrections and has systems in place to pick up on likely errors, there is no guarantee that those systems will help..