Other Services:
Life Insurance & Annuities
We offer several types of Life Insurance products and Annuities.
Main Menu
Tax Tips Small Business
-
Clothing for Your Job is Not Always Deductible
Understanding the rules
Read more ...
Many taxpayers are required to maintain a certain personal appearance or wear special clothing for work. However, not all your purchases for work-related attire or personal grooming reap a tax deduction. If you are required to wear a uniform or other special clothing that has the name of your employer or some other logo on it, that cost is deductible as a miscellaneous itemized deduction.
Small Business Quick Tip
-
Employer Provided Education
Employer-provided education assistance benefits of $5,250 provided under a written plan are excludable from wages. The education doesn't need to be job-related to qualify.
Follow us on
Tax Tips Personal
-
Summer Day Care
What expenses qualify for the childcare credit?
Parents who have children under the age of 13 are allowed a tax credit for childcare expenses paid so they can work. In the summer, many parents send their children to a structured day camp or an overnight camp for a week or two at a time. In most cases, the cost of sending your child to a camp of this nature does not qualify as a childcare expense, even if one of the reasons for sending the child is for care.
Read more ...
Personal Quick Tip
-
Teacher Expenses
If you are a teacher who spent your own money for classroom supplies, you can take a deduction for up to $250 of those costs.