by Logan Creek Creative | Apr 5, 2021 | TAX TIPS
CHILD TAX CREDIT CHANGES Under prior tax law, qualifying taxpayers with dependent children under age 17 could get a child tax credit of up to $2,000 per child. The taxpayer has to meet income limitations and the child must also meet certain requirements. Up to $1,400...
by Logan Creek Creative | Mar 29, 2021 | TAX TIPS
As we move toward the new 2020 tax return due date of May 17, 2021, I want to remind you of a few items that are new for this fling season and easy to overlook. The first is a charitable contribution deduction for folks claiming the standard deduction. In prior...
by Logan Creek Creative | Mar 25, 2021 | TAX TIPS
What you need to know Individual tax filing due date: May 17, 2021 (was April 15, 2021) Unemployment income: $10,200 per person not subject to federal tax (was taxable) A surprise tax break for 2020 was passed into law in March of 2021. This late, late, late law...
by Logan Creek Creative | Mar 12, 2021 | TAX TIPS
Prior to e-filing your tax return, you will need to review it. Here are some suggestions to ensure everything looks right. The Basics Confirm the basics for you, your spouse and your dependents: Double check the name, address, Social Security Numbers and proper...
by Logan Creek Creative | Mar 9, 2021 | TAX TIPS
Defending Fair Market Value Fair market value (FMV) is the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, and both having reasonable...
