November 2014

Who\’s a Dependent?

[mp_row] [mp_span col=\”12\”] To most of us, the word \”dependent\” is synonymous with \”child,\” but the IRS\’s definition is a little different. For tax purposes, a dependent must be either a \”qualifying child\” or a \”qualifying relative.\” To be a qualifying child, the child must: Live in your home for over half the year Be […]

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Year-end Income-tax Planning

Year-end income-tax planning, as 2014 winds down, consider some of the following suggestions for saving on your taxes both this year and in 2015. Pay Fourth Quarter Estimated State Taxes Early Taxpayers who itemize on their federal returns may deduct any state income taxes paid during 2014. Paying fourth quarter estimated taxes (generally due in

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