Tag Archives: Plymouth MA CPA

Child Tax Credit and Credit for Other Dependents

Many parents claim the child tax credit to help with the cost of raising children. This year the credit may help even more parents because the income limit for those who qualify has increased to $400,000 for married couples filing … Continue reading

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Seniors Who Turned 70½ Last Year Must Start Receiving Retirement Plan Payments by April 1

In most cases, Monday, April 1, 2019, is the date by which persons who turned age 70½ during 2018 must begin receiving payments from Individual Retirement Accounts (IRAs) and workplace retirement plans. Two payments in the same year The payments, … Continue reading

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Bad Money Moves We All Make

All of us have made bad decisions in our life at some point, and we will likely make some more in the future. While it’s always a good idea to avoid these scenarios whenever possible, this is especially true when … Continue reading

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Here are Five Facts about the New Form 1040

The following article was published by the IRS. There are several changes to the 2018 Form 1040. However, taxpayers who file electronically may not notice the changes as the tax return preparation software guides people through the filing process. The … Continue reading

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Mortgage Interest Deduction

If you have a mortgage or home equity loan, it is important to know that tax reform changes have an impact on the mortgage interest deduction. The first change is that you can deduct interest only if you are using … Continue reading

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How to Avoid an Audit

While full-blown audits from the IRS are something that tax preparers are used to, a taxpayer likely views an audit right up there with a root canal, something to be avoided at all costs. It is impossible to predict with … Continue reading

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Earned income tax credit – Do you qualify?

Do you qualify for the Earned Income Tax Credit? If you do, and you don’t claim it, you are leaving potentially thousands of dollars on the table. The EITC is designed to help those on a low to moderate income … Continue reading

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