If you're bummed about the elimination of the personal exemption, don't forget that you do have some good news to fall back on. The Child Tax Credit has been doubled to $2,000 per child (it was $1,000 in 2017).
Since 2006 there has been a provision in the tax code to incent taxpayers to purchase and install property that make their home more energy efficient. This part of the code does not tend to be in the press much because the Nonbusiness Energy Property Credit has a lifetime limit of $500.
How to tell you have credit card problems
If you're living beyond your means, you could be courting financial disaster. Here are some indicators that you need to get your credit card usage under control.
* Your income's dwindling but your credit card balances keep growing. Lost your job but can't seem to reign in those charge cards? Don't be surprised when the bill collectors come calling.
Review your credit policies
There are many ways to make your business more profitable, and sound credit policies are high on the list. The current slowdown in the economy is a good reason to reexamine your company's policies. Keep the following items in mind as you review your policies.
Premium Tax Credit: Upcoming Tax Surprise?
Here is a quick quiz to see if you are at risk
Based upon a recent report given to the Federal government evaluating data inconsistencies with the new health insurance market exchanges, over a million taxpayers could owe the government money at tax time. Here is a quick quiz to see if this risk applies to you.
Health insurance tax credits are good medicine for small businesses
Small businesses may be missing out on an important new tax perk related to health insurance. And the stakes are even higher in 2014.
Get 'extra credit' for your kids in college
The price tag on a college diploma keeps going up, but at least you might be able to salvage some tax benefits if you're paying the tab.
An Example: If your child is attending college this fall, you may have a chance to claim an enhanced tax break for higher education expenses.