Lower My Tax Now Blog
Plan for the return of some tax break phase-outs
Posted in Tax-Blog. Bookmark the permalink. | , November 21, 2013 | 3 Comments
Are you familiar with PEP and Pease? Though they sound like a pop duo, the terms refer to tax rules known as phase-outs that can impact how much federal income tax you owe.
Phase-outs are reductions in the amount of deductions, credits, and other breaks you can claim on your…
Check the tax issues if you are caring for elderly parents
Posted in Tax-Blog. Bookmark the permalink. | , November 13, 2013 | 1 Comments
As the population in the U.S. continues to age, more and more people will find themselves caring for their parents. Here are some of the tax breaks that caregivers should consider.
* If you provide more than half of your parent’s support, you may be able to claim your parent…
Delay in 2014 filing season
Posted in Tax-Blog. Bookmark the permalink. | , November 7, 2013 | 0 Comments
The Internal Revenue Service has announced a delay of approximately one to two weeks to the start of the 2014 filing season due to the 16-day federal government shutdown.
The government closure came during the peak period for preparing IRS systems for the 2014 filing season. Updating these core systems…
The clock’s ticking on 2013 tax-cutting
Posted in Tax-Blog. Bookmark the permalink. | , October 30, 2013 | 0 Comments
Want to lower your 2013 tax bill? The time for action is running out, so consider these tax-savers now.
* You can choose to deduct sales taxes instead of local and state income taxes. If you’re planning big ticket purchases (like a car or a boat), buy before year-end to…
