If Benjamin Franklin were alive today, his famous quote Nothing is certain, except death and taxes might include a third item — paying medical expenses. Fortunately a health savings account (HSA) is a great way to cut your spending on medical expenses. A major tax break If you have a high deductible health insurance plan (a [...]
Beginning in 2023 there is a new way to save money for college that won't impact your student’s ability to qualify for financial aid. This change is in the 529 college saving program and is a change that every parent, grandparent, or friend of a future scholar should know. Simply put, grandparents can now [...]
Whether you receive a big refund or pay your taxes on tax day, taking action now can ensure next year’s tax bill is optimized by not paying a dollar more than necessary. Update paycheck withholdings and forecast estimated tax payments. Reviewing and updating withholdings now gives you several months to spread out the tax impact [...]
As a busy working parent, you may be concerned about what activities are available for your kids this summer. There may be a solution that’s also a tax break: summer camp! Using the Child and Dependent Care Credit, you can be reimbursed for part of the cost of enrolling your child in a day [...]
