Important Tax Dates & Information
- Aug. 15, 2018 – Extended exempt organizations returns due
- Sept. 17, 2018 – Third-quarter estimated taxes due
- Sept. 17, 2018 – Extended partnerships and S corporations returns due
- Oct. 15, 2018 – Extended individual tax returns due
The Tax Cuts and Jobs Act raised the Child Tax Credit from $1,000 to $2,000. Of this, up to $1,400 can be a refundable credit. The Internal Revenue Service has not fully explained how this will work, but I’ll let you know as soon as they issue guidance.
What is a Qualified Education Expense?
As you send your children back to school, you may be wondering what expenses qualify for education credits or tax-free distributions from education accounts. Use the chart below as a guide. If you have any questions, give me a call. Together we can plan how to best pay for your child’s education.
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Did You Know?
On Aug. 21, 1911, Vincenzo Peruggia stole the Mona Lisa from the Louvre by hiding in a closet overnight. The painting was not recovered until 1913. Peruggia served seven months in jail for the theft.