by briesterer@thinkvisionary.com | Apr 3, 2022 | Individuals, Newsletter, Tax
As the April 18th tax deadline quickly approaches, last-minute tax filers should make sure they have all their documents before filing a tax return. You should have received a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your...
by briesterer@thinkvisionary.com | Mar 3, 2022 | Individuals, Newsletter
The credit for other dependents is a tax credit available to taxpayers for each of their qualifying dependents who can’t be claimed for the child tax credit. The maximum credit amount is $500 for each dependent who meets certain conditions. These include:...
by briesterer@thinkvisionary.com | Mar 3, 2022 | Individuals, Newsletter
Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income (SSI) payments, which are not taxable. Generally, you pay federal income taxes on your Social Security benefits only if you have...
by briesterer@thinkvisionary.com | Mar 2, 2022 | Individuals, Newsletter
[vc_row][vc_column][vc_column_text]Many taxpayers opt for the standard deduction, but sometimes itemizing your deductions is the better choice – often resulting in a lower tax bill. Whether you bought a house, refinanced your current home, or had extensive...
by briesterer@thinkvisionary.com | Mar 1, 2022 | Individuals, Newsletter
[vc_row][vc_column][vc_column_text]While not all mistakes on tax returns cause delays in refunds, as the April 18 deadline approaches, taxpayers are advised to steer clear of the common tax return errors listed below to ensure a timely refund. Not Using Electronic...
by briesterer@thinkvisionary.com | Feb 7, 2022 | Individuals, Newsletter
Everyone wants to save money on their taxes, and retirees and older adults are no exception. If you’re 50 or older, here are six tax tips that could help you do just that. 1. Standard Deduction for Seniors If you and your spouse are 65 years old or older and you...
