If your annual income falls somewhere between $50,000 and $200,000, chances are that more than half of your assets consist…
Tag: IRS
Working Grandparents Raising Grandchildren May Qualify for EITC
Grandparents who work and raise dependent grandchildren may be eligible for the earned income tax credit (“EITC”), which is a…
4th Quarter Review of Estimated Taxes
The U.S. tax system is a pay-as-you-go system, which means that individuals must make four quarterly installment payments (due on…
To Shred or Not To Shred?
Hook Law Center will be sponsoring our "Shred With A Purpose" event to support the Alzheimer's Association THIS Saturday, August 25, 2018, from…
Determining How Much of Your Social Security Benefits are Taxable
Over the years, clients have often asked whether or not their Social Security benefits are taxable. The answer is that…
With Tax Time Fast Approaching
How Long Should You Keep Your Records? With tax time fast approaching, what a better time to clean out those…
Premiums for long-term care insurance can be a tax deduction
Under IRS regulations, taxpayers can deduct a greater amount from their 2017 taxes due to the purchase of long-term care insurance. You can deduct premiums for long-term care insurance policies that are “qualified,” to the degree to which they, in…
Be aware of the details on required minimum distributions
It is important for taxpayers to be informed about required minimum distributions (RMDs) from IRAs so that they can plan accordingly for their retirement. In the current year, those persons age 70 ½ or older are required to take a…
Musings on Financial Aid
My oldest child is a senior in high school, and we are filling out the financial aid forms for the first time. There has been a big change in the world of collegiate financial aid. In prior years, the Free…
