Businesses that are seeking to hire should be aware of a valuable tax credit for hiring individuals from one or more targeted groups. Employers can qualify for the Work Opportunity Tax Credit (WOTC), which is worth as much as $2,400 for most eligible employees ($4,800,...

Business owners who intend to hire should be aware of a recent law that has extended through 2025 a valuable credit to those that hire members of certain targeted groups. This article provides the limits and other details of the Work Opportunity Tax Credit and...

Electric vehicles (EVs) are increasing in popularity all the time, and more of them are qualifying for a federal tax credit. For example, the IRS added three more eligible models in July. This article discusses the definition of EVs for tax purposes as well as...

The federal child tax credit is available to help many taxpayers with children under the age of 17, and there’s a dependent credit for those who are eligible with older children. This article explores the details. A sidebar explains that a qualifying child must have...

Kids who learn about money when they’re young are more likely to develop sound financial habits when they’re adults. This brief article offers tips on how to raise financially responsible kids at various stages of childhood....

The Tax Cuts and Jobs Act made many changes to tax breaks for individuals. This article looks at some specific areas to review as one lays the groundwork for filing a 2018 tax return: personal exemptions, the standard deduction and the child credit....

Virtually everyone has a credit and debit card these days. But many people still live in fear of these plastic necessities because they’re unfamiliar with the fine print of the arrangements involved. This article explores the potential liability of both credit and debit cards, and...

The child credit has long been a valuable tax break. But, with the passage of the Tax Cuts and Jobs Act (TCJA) late last year, it’s now even better — at least for a while. This article provides some details that every family should know....