- Does Uncle Sam Have a Birthday Gift for You This Year?
- For your birthday this year, you may have received a special gift from a loved one or favorite friend. Depending on the number of candles on this year's birthday cake, you may also be getting a gift from Uncle Sam when you file your tax return next tax season. In some situations the gift may not be because you reached a certain age, but will be the result of the age your dependent(s) or spouse turned this year. Unfortunately, not all of Uncle Sam's gifts will be welcomed, because some birthdays mark the end of eligibility for certain credits or exclusions of income and others signal the start of needing to include retirement benefits in income.
- Tax Benefits for People With Disabilities
- The code includes a number of benefits for individuals with disabilities, but you can't take advantage of these benefits unless you know about them and understand how they might benefit you and your special circumstances. Many of the benefits also apply to the parents of children with disabilities. Here is a rundown:
- Marketplace Insurance Checkup
- If you are one of the many individuals or families who purchase their health insurance through the federal or a state government health insurance marketplace and are receiving an advance premium tax credit (subsidy of premium available to those with low to moderate income) to help you pay the cost of that insurance, you should make sure you report changes in family income and family size, as they occur, to the marketplace through which you purchased your insurance.
- Should You Itemize Your Deductions for Taxes?
- Looking ahead to the filing season for this year's tax returns, a frequent question is whether you should keep track of tax-deductible expenditures or simply settle for the standard deduction amount.
- Retirement Plan Distribution Pitfalls
- When an individual retires or leaves an employer's service, the individual will be required to take a distribution from the employer's retirement plan (if the employer had a plan). Depending on the employee's age and the plan's terms, a distribution may not be required immediately, but when it's time to take the distribution there are a number of tax pitfalls that can create some very big tax headaches for the employee. This article will explore those hazards and discuss how to avoid them.
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