We strive to make complex tax issues simple. We understand the tax laws and how the tax laws affect you. That’s our job!
TAX CHANGES THAT MAY AFFECT YOU
New for 2011
- Refundable Tax Credits (American Opportunity Credit [educational])
- Energy Efficient Property Credits (Up to $500 credit)
- Educational Credits (American Opportunity Credit, now includes 4 years of college, and Lifetime Learning Credit)
- Kiddie Tax now expanded to age 24
- Dependent Claimed by a Non-Custodial Parent must have a signed form 8332
Still in Effect for 2011
- Reduction of 2% for employee social security deductions on your paycheck
- Mortgage Insurance (PMI)
- Tuition and Fees
- Hybrid & Alternative Powered Vehicle Tax Credits
- Student Loan Interest (up to $2500)
- State and Local Sales Tax Deduction
School Teachers K-12
You can deduct up to $250 for out of pocket expenses for classroom supplies
Child Tax Credit
You may be entitled to a maximum of $1000 a child tax credit for each of your qualifying children under age 17
