Twists and Turns of the Education Tax Credits
If you have a child or children in college, or perhaps you or your spouse is a student, it can be confusing to figure out which of two potential educa…
Author: CG Accounting Group
Video Tip: An Overview of the Adoption Tax Credit
Taxpayers who adopted or started the adoption process in 2021 may qualify for the adoption credit. This credit can be applied to international, domestic private, and public foster care adoption. Watch this video for a quick overview of the adoption tax credit.
Is Interest Paid on Borrowed Money Tax Deductible?
If you borrow money will the interest you pay be deductible for income tax purposes? The answer to that question can be complicated, and unfortunately…
Is there a Tax Break for Tuition Paid to Special Schools?
A component of itemized deductions is the cost of medical care. The total of eligible medical expenses paid during the tax year is reduced by 7.5% of …
How to Automate Email Reminders for Overdue Customers
One way to keep your company’s cash flow positive is by sending email reminders to overdue customers. QuickBooks Online can automate this….
What’s Next for the Child Tax Credit?
If your family received advance child tax credit funds, you are not alone in wondering what will come next from Congress for 2022. Learn more….
February 2022 Business Due Dates
Here are the February 2022 Business Due Dates….
February 2022 Individual Due Dates
Here are the February 2022 Individual Due Dates….
Video Tips: Tax Break for Special Education Tuitions and Expenses
When itemizing deductions in the tax return, a taxpayer can include medical expense payments to a special school for a mentally impaired or physically disabled person if the main reason for using the school is its resources for relieving the disability. Watch this video for a better understanding of this tax break.
Costs for Installing Medically-Related Home Improvements Have Tax Benefits
According to the Social Security Administration, 10,000 baby boomers a day are reaching the age of 65, as of 2018 16% of Americans were age 65 or olde…
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