This week’s blog focuses on the Child and Dependent Care Tax Credit (CDCTC). This credit reduces your tax liability based on a percentage of the amount of money spent on child or dependent care for the year. The requirements to qualify for the CDCTC are as follows:
Now that school has ended and the kids are home for the summer many families will be hiring part-time or full-time help to look after their children. It is important to be aware of what is commonly called the “nanny tax” when hiring a babysitter or nanny for an extended period of time. Depending on… Read more
Now that the April 15th filing deadline has passed the last thing anyone probably wants to think about is their taxes. But what do you do when you realize after filing your taxes that you qualified for a credit you did not take? Or you receive a W-2 or 1099 you forgot to include on… Read more
In late January of this year, a less than wise judge from the U.S. District Court for the District of Columbia enjoined the IRS from requiring tax return preparers to complete simple competency tests and attend continuing education courses each year. As a result of that ruling, pretty much anyone off the street can now… Read more
I picked on some news outlets a few weeks ago due to their shoddy reporting on the tax consequences of cancellation of debt from the foreclosure of a principal residence. Just a few days later, I came across some articles that misapplied the potential consequences of cancellation of debt from the forgiveness of student loans…. Read more
A few months ago, I took a less than reputable reporter to task for publishing an article on the outrageous tax bills American athletes faced for winning medals at the Olympic Games. Well, misguided reporting on tax law has happened again. Numerous times in fact, but I can only keep up with so much. The… Read more
An attorney’s job is to facilitate a resolution, not add to the problem, particularly when it comes to tax issues. The employees here at The Alexander Law Firm, LLC take service to our clients very seriously. We try to employ the best possible practices for customer service and evaluate our strengths and weaknesses on an… Read more
I received a call the other week from a non-client taxpayer who was in the process of filing some back tax returns and ran into an issue. This taxpayer is a non-custodial parent of a son from a previous relationship and knew the ex-partner did not claim the son because the ex-partner had no filing… Read more
If you have paid any attention to the upcoming Presidential election, which is hard to do even if try your best to avoid it, you know that both parties have setup the tax code as a wedge issue. Regardless of whose vision ultimately wins out, there are already a large number of scheduled changes to… Read more
