2013 higher education breaks may save your family taxes

  • March 12, 2014
  • Tax

Tax credits can be especially valuable because they reduce taxes dollar-for-dollar; deductions reduce only the amount of income that’s taxed. A couple of credits are available for higher education expenses: The American Opportunity credit — up to $2,500 per year…

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Don’t overlook reinvested dividends

One of the most common mistakes investors make is forgetting to increase their basis in mutual funds to reflect reinvested dividends. Many mutual fund investors automatically reinvest dividends in additional shares of the fund. These reinvestments increase tax basis in…

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Home office deduction 101

  • February 5, 2014
  • Tax

If your use of a home office is for your employer’s benefit or because you’re self employed, you may be able to deduct a portion of your mortgage interest, property taxes, insurance, utilities and certain other expenses, as well as…

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What’s New on Your 2013 Form 1040

  • January 30, 2014
  • Tax

Last year's W-2s and 1099s should be arriving in your mailbox or inbox soon. So it's officially time to start thinking about filing your 2013 personal tax return. Here's what you need to know about the key tax law changes…

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