by Logan Creek Creative | Jan 31, 2022 | TAX TIPS
The Child Tax Credit, which eligible parents have been claiming on their tax return for many years, was enhanced last year, and I urge everyone with children to be extra careful this tax filing season because the changes can cause you significant tax headaches if you...
by Logan Creek Creative | Jan 24, 2022 | TAX TIPS
Tax filing season for 2021 tax returns officially started on Monday, January 24th, when the IRS re-opened their portal to begin accepting electronically filed tax returns. Some states, including North Carolina, have further delayed accepting and processing individual...
by Logan Creek Creative | Jan 20, 2022 | TAX TIPS
The IRS recently announced it will be sending out a recap of payments sent to taxpayers for the multple rounds of Economic Impact Payments and Advanced Child Tax Payments. Here is what you need to know. Economic Impact Payments During 2021, the IRS issued millions of...
by Logan Creek Creative | Jan 11, 2022 | TAX TIPS
WASHINGTON — The IRS urges taxpayers to check into their options to avoid being subject to estimated tax penalties, which apply when someone underpays their taxes. Taxpayers who paid too little tax during 2021 can still avoid a surprise tax-time bill and possible...
by Logan Creek Creative | Dec 27, 2021 | TAX TIPS
Now is the time to take action on reducing next year’s tax bill. One area to help reduce your tax obligation is leveraging your kids to the fullest by understanding the kiddie tax rules. The term kiddie tax was introduced by the Tax Reform Act of 1986. The rules...
by Logan Creek Creative | Dec 10, 2021 | TAX TIPS
Plan Your 2022 Retirement Contributions As part of your planning for next year, now is the time to review funding your retirement accounts In 2022. With the cost of living calculations and increases in inflation, higher phaseout limits make many more taxpayers...
