If you are considering purchasing an electric vehicle and expect to receive a federal tax credit along with the purchase, you better do your homework first.
If you think that education credits are just for sending your children to college, think again—the credits are available to you, your spouse (if you are married), and your dependents. Even if you or your spouse is only attending school part-time, you still may qualify for a tax credit.
If you have children under the age of 18, by now you likely have gotten your first advance child tax credit payment, either by check or by direct deposit. Be aware, this is money you would have gotten credit for on your 2021 tax return when you file it next year anyway. You are just receiving it in advance, meaning you may not get as much as expected when you file your tax return.
It’s Tax Time, are you ready to file your 2016 tax returns? This is that time of year where you either got it together or you are under the gun. Either way, here are some tax tips that will make tax preparation easier for you when you visit your tax preparer.