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Tag: income

Three Tax Breaks for Higher Education

The cost of high education keeps rising. If you, or a dependent, are in college make sure you take advantage of the tax breaks you might be eligible for. The neat thing here is that you are allowed to take the credit or deduction with the best tax benefit for you. So hand your CPA tha...  Read More

Second 2013 estimated tax payment due June 15 2013

It is time to make your second estimated tax payment of 2013.  The deadline for making this payment is June 15.  For individuals you can get more information and vouchers here (the vouchers are at the end). Corporations also need to file quarterly estimated payments.  Their payment da...  Read More

What Is Passive Activity Income?

Passive Activities Code Section 469 defines passive activities as “any activity which involves the conduct of any trade or business, and in which the taxpayer does not materially participate.” This section was enacted in 1986 in an effort to reduce the prevalence of tax sh...  Read More