Don't Delay, Call Today!

Posts Tagged "Children and taxes"

Teaching Children about Finances and Self Reliance

Doesn’t the early bird catch the worm? So, starting early, as early as Kindergarten helps in shaping good financial habits in the long run. When they start identifying, pennies, nickels and dimes in school, it’s a good time to help them learn their penny’s worth. This week we will discuss about how to teach our children good financial habits. Only…read more →

Child and Dependent Care Tax Credits This Summer

Holding those little ones in your arms and slowly guiding them through the path of life, is surely one of the most joyous and fulfilling experience of a lifetime. But there is no denying that it can be hard on your pocketbook. Catherine, a mother of two children aged 7 and 10, experiences this dichotomy between pleasure of child rearing…read more →

The Taxpayer Advocate Service (TAS)

You should know that you have help available, while dealing with the IRS. The Taxpayer Advocate Service (TAS) is the separate department of the Federal Government that is NOT part of the Internal Revenue Service (IRS), even though it is located at an IRS office in major cities of the US. It is a part of the government that actually…read more →

IRS Online Tools for Year-Round Tax Help

Help is just a click away. Getting year-round tax help from the IRS is easier than ever before. The IRS website has many online tools that you can use to get the service you need. Greg, an engineer by profession knows this, so he never shies away from visiting the IRS website for his tax-related queries. For example, with IRS.gov…read more →

Children Employed by Parents who own a Business

While rolling out a roadmap for their future professional growth, employing children in your own business also works to your advantage from the tax perspective. As a self-employed business owner (sole proprietorship), paying wages to a child can be an effective way to shift income from the taxpayer who owns the business to the child, who usually is in a…read more →

Teaching Children about Finances and Self Reliance

Doesn’t the early bird catch the worm? So, starting early, as early as Kindergarten helps in shaping good financial habits in the long run. When they start identifying, pennies, nickels and dimes in school, it’s a good time to help them learn their penny’s worth. This week we will discuss about how to teach our children good financial habits. Only…read more →

The Taxpayer Advocate Service (TAS)

The Taxpayer Advocate Service is the separate department of the Federal Government that is NOT part of the Internal Revenue Service (IRS), even though it is located at an IRS office in major cities of the US. It is a part of the government that actually helps taxpayers who have not been treated properly or who are about to lose…read more →

IRS Online Tools for Year-Round Tax Help

Getting year-round tax help from the IRS is easier than ever before. The IRS website has many online tools that you can use to get the service you need. For example, with IRS.gov you can e-file your tax return for free, easily check the status of your refund, or get many of your tax questions answered. Here are some of…read more →

Children Employed by Parents who own a business

As a self-employed business owner (sole proprietorship), paying wages to a child can be an effective way to shift income from the taxpayer who owns the business to the child, who usually is in a lower income bracket. It may be possible to escape taxes completely on wages paid to the child. The child can contribute to a retirement plan…read more →

Skip to toolbar