A Simple Solution For Reducing Taxpayer Fraud

Some of the best ideas are the most simple. This dawned on me while chatting with a fellow tax pro at a recent networking event (okay, it was a cocktail party, same thing). The two of us spent a few minutes talking about tax fraud and the child tax credit (yes, that’s what tax professionals … Read more

The Great Working Mom Debate Isn’t About Kids, It’s About Money

I was finishing up with a colleague at the office when I saw my cell phone light up. It wasn’t a number that I recognized so I let it go. The office phone rang a few minutes later and my assistant advised that it was the school. Of course it was. It was a dental … Read more

IRS Offers More Info On Veteran Tax Credit

Remember the newly expanded tax credit for hiring veterans that was passed last year? The IRS has finally issued more guidance on the credit. The Returning Heroes and Wounded Warriors Work Opportunity Tax Credits was part of the VOW to Hire Heroes Act of 2011, which was announced on Veterans Day last year. The credit … Read more

IRS Offers Repayment Info For First Time Homebuyers

One of the frustrating things from a tax professional’s point of view about the magically shifting world of tax credits and deductions on the whims of Congress is that it confuses taxpayers. For 2011, tops on the list of things taxpayers can’t understand is the disappearance of the Making Work Pay Credit. But second? Repayment … Read more

Veterans Day Tax Bill Moves Forward

When I was in high school, the coolest grown-up that I knew enlisted in the service. My older brother, Rob (okay, so maybe my circle of cool grown-ups was somewhat limited), joined the Navy. He drove me back to school shortly after the announcement, somehow managing to get lost between our tiny town and Durham, … Read more

New Jersey Says No To Tax Credit for “Jersey Shore”

As it turns out, the New Jersey tax credit wasn’t a “shore” thing after all (I know, it was a terrible pun but I couldn’t help it). New Jersey Gov. Chris Christie (R) has decided against a $420,000 tax credit for the hit MTV show, Jersey Shore, taking his veto pen to the credit after … Read more

Back to School: Education Tax Credits

Education tax credits can help offset the costs of paying for your education or costs you pay for an eligible student who is your spouse or a dependent you claim on your tax return. For 2011, the American Opportunity Credit and the Lifetime Learning Credit are available to qualified taxpayers who pay expenses for eligible … Read more

Here’s The Situation: Call To Block “Jersey Shore” Tax Credit

When you live in Philadelphia, you have to make fun of New Jersey. I think it’s in the City charter or something. And as much as I love Jon Stewart, Springsteen, fresh blueberries and the oh-so-civilized liquor laws, I still can’t help but poke fun at state whose residents identify themselves by exit numbers and … Read more

Mmm… Obama’s Plan Is So “Job Creating”

President Obama will send his new jobs creation plan to Congress later today. He’s going to pitch it first in the Rose Garden surrounded by the kinds of folks that make for good press (vets and teachers, for example) and then send it to Congress for consideration. It’s not going to be an easy road. … Read more