TAX SOLUTIONS: Tax Benefits for College Education
You are working hard on your college education. The costs for tuition and books are expensive. To help you with the cost of college, there are IRS tax breaks available to you.
Financial Focus
TAX SOLUTIONS: Taxes on Early Retirement Withdrawals
By A.J. Gross, C.P.A., E.A.
For years you contributed money to a 401K or IRA. Your employer may have matched your contributions. You now have a good chunk of money saved up in your retirement. Then something happens in your life and you need money. One thought is to withdraw money out of your retirement. But, there are tax consequences. What to do?
Aboutthatcar.com: Volvo Drive-E powertrains
By Frank S. Washington
LAS VEGAS, NV – If Volvo had not built up a certain amount of capital in the market and within the automotive press, it would have been written off as dead a few years ago.
TAX SOLUTIONS: Health Care Tax Penalty
By A.J. Gross, C.P.A., E.A.
The deadline has passed to purchase healthcare under the Affordable Health Care for America Act, AKA Obamacare. A decision was made not to purchase health insurance. You rather pay the tax penalty. We will review how to calculate the tax penalty for not purchasing health insurance.
TAX SOLUTIONS 13-8: Amending Tax Returns
By A.J. Gross, C.P.A., E.A.You filed your taxes on time and it was a huge relief. Getting your taxes prepared every year is burdensome. Then you stumble upon some additional tax information. The nervous twitch you feel inside about taxes comes back. I recommend amending your tax return.
Jill on Money: Should I buy or rent?
By Jill Schlesinger
Tribune Media Services
Three years into the national housing recovery, activity and price increases are moderating. While the unusually severe weather across the country has contributed to the recent weakness, the effects of last year’s rise in mortgage rates and the incremental increase in inventory have slowed things down. As a result, it is a perfect time to consider one of the age old questions that plagues would-be homeowners and equity rich near-retirees: Should I buy or rent?
Jill on Money: Let’s review a few 401 (k) basics
By Jill Schlesinger
Tribune Media Services
When AOL CEO Tim Armstrong made a splash recently about changing (and then not-changing) the 401(k) corporate matching policy, the focus was on his rationale for the new policy. He blamed costly “distressed births” of two AOL employees ($1,000,000 each) and an additional $7.5 million attributable to Obamacare, as the catalysts for the shift in the company’s match to a one-time end-of-year match, from a per-pay period match.
TAX SOLUTIONS: Top 5 Deductions for Parents
By A.J. Gross, C.P.A., E.A.
1) Dependent Exemption – You may be able to claim a dependency exemption for each child living with you. The dependency exemption for 2013 is up to $3,900 per child. The dependency exemption increased to $3,950 in 2014. The child must be considered a qualifying child or qualifying relative. The child must be a U.S. citizen, U.S. national, or U.S. resident alien.
News Spotlight: MI Carpenters, Volunteers, Businesses Surprise Wounded Veteran, Family with New Home, Job
TAYLOR, MI – Christopher Holcomb served the nation as a Marine in Afghanistan, spearheading the global fight against terrorism. He also bore the scars of being in a forward combat position, sustaining a serious injury during his Afghanistan deployment.
Your Other 8 Hours: Going through a divorce? 3 Common fears and how to eliminate them
By Robert Pagliarini,
Tribune Media Services
Divorce can feel like a full-time job. It can be all-consuming, affecting every aspect of your life. Between the (sometimes) contentious texts with your ex-partner, phone calls to your attorney and figuring out child custody, where you are going to live and how your new life will look, there is almost always a sense of uncertainty or fear just below the surface.