Tag Archives: tax credit

Do you need to think about the alternative minimum tax?

You may not have thought much about the alternative minimum tax, or AMT, since Congress passed a law that permanently fixed the exemption. But the tax, which you calculate separately from your regular tax liability, is still around. Here’s how … Continue reading

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Get Ready for Tax Prep: What You Should Do

April 17 is still months away, but now’s the time to start preparing. You’re undoubtedly very busy right now. It’s the middle of the holiday season and moving quickly toward the end of the year, so you probably have reports … Continue reading

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You can still benefit from the Work Opportunity Tax Credit

The Work Opportunity Tax Credit (WOTC) is a federal income tax break that can reduce your business income tax when you hire workers from specified groups that typically experience high unemployment rates. Normally, you have 28 days after the worker’s … Continue reading

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All About the Earned Income Tax Credit

Individuals who are working and who have low-to-moderate taxable income may qualify for this income tax credit. When you think about ways to offset your income as you’re preparing for income tax time, do you primarily consider the deductions you … Continue reading

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Tax Breaks Extended Retroactively; Some are Permanent

In mid-December, Congress renewed a long list of tax breaks known as “extenders” that have been expiring on an annual basis. This year many of the rules are retroactive to the beginning of 2015. You may be able to benefit … Continue reading

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