- 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 education tax credits (1) you are eligible for and (2) gives you the greater tax benefit. This article looks at some of the twists and turns of these credits.
- 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. Watch this video for details.
- 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, not all the interest an individual pays is tax-deductible. The rules for deducting interest vary, and essentially depend on what the loan proceeds are used for: personal items, investment, home mortgage, business activities or higher-education.
- 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 the taxpayer’s adjusted gross income (AGI).
- 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.
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