Should I give my kid an allowance?

This is highly debated and often one person’s theory differs from another.  Do you give an allowance?  If you do give an allowance, why do you do it and what are the benefits?  If not, what tools do you use to teach them financial responsibility? We have all been at...

CHARITY – Will the New Tax Law Reduce Donations?

Rightfully so, many have expressed concern that their contributions from donors may go down under the rules passed with the new tax law.  After all, deducting your donations just got harder. With a new standard deduction that is practically double what is has been...

If You Are Audited – Who will Represent You?

If You Are Audited – Who will Represent You? Any tax professional with an IRS Preparer Tax Identification Number (PTIN) is authorized to prepare federal tax returns. However, tax professionals have differing levels of skills, education and expertise. An important...

Military Pension Update

MILITARY PENSION    Military Pensions are no longer subject to WV state income tax effective January 1, 2018. Those who have served in the Armed forces, reserves and National Guard members who retire in West Virginia will no longer have to pay state income tax on...

2017 Tax Extenders (Passed Feb 9, 2018) 

2017 Tax Extenders (Passed Feb 9, 2018)                    exclusion from gross income of discharge of qualified principal residence indebtedness; mortgage insurance premiums treated as qualified residence interest; above the line deduction for qualified tuition and...

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