Potpourri of Tax Topics

/Potpourri of Tax Topics

Glossary: Additional Child Tax Credit

By | April 25th, 2016|Categories: Glossary, Potpourri of Tax Topics|Tags: , , , , , |

The ""Additional Child Tax Credit" is the portion of the child tax credit that is fully refundable regardless of a taxpayer's taxable income.

Basics of Taxes, Part 1: Who Has to File

By | April 11th, 2016|Categories: Potpourri of Tax Topics|Tags: , |

There are two reasons why a college student would file a tax return: 1) You’re required by law to file a tax return because your income was above certain limits, and 2) You’re owed a refund

Married Filing Separately is Not the Same as Filing as Single

By | April 5th, 2016|Categories: Potpourri of Tax Topics|Tags: , , |

A common misconception I run into is the assumption among married couples that, if they file separately, it’s the same as filing as two single people. This is not the case.

Taxation of Incentives Received from a Bank

By | April 1st, 2016|Categories: Potpourri of Tax Topics|Tags: , , , |

You open a savings account at a bank and they give you a toaster or a cooler or a coffee cup as a gift. Is this taxable? It depends on a couple of factors.

Beware of the Deadlines on Amended Tax Returns

By | March 30th, 2016|Categories: Potpourri of Tax Topics|Tags: , |

Deadlines are always important in the tax world, but sometimes the definitions of what a "deadline" is varies from one situation to the next. Such is the case with amended tax returns.