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Returning Value Blog

Crash Course on Education Tax Breaks

Posted by Nick Wheeler, CPA on Sep 13, 2016

Choose one of three tax-savers

Now that your children are back in school, you might consider the available tax breaks for higher education expenses. Following extensions and modifications under the Protecting Americans from Tax Hikes (PATH) Act of 2015, there are three primary tax provisions that may benefit parents: the American Opportunity Tax Credit (AOTC), the Lifetime Learning Credit (LLC) and the tuition deduction.

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Posted in Individual Tax Planning

Review Your Beneficiary Designation Forms

Posted by Marty Williams, CPA on May 13, 2016

What to Look For

When was the last time you checked the beneficiaries you selected for your qualified retirement plan or IRA? Chances are that the choices you made when you initiated the account may no longer be appropriate. Anyone with funds in one or both of these accounts should have at least one beneficiary listed should anything happen to the owner.

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Posted in Individual Tax Planning

Four Basic Baskets of Interest Expenses

Posted by Melissa Motley, CPA on Apr 21, 2016

Divide interest into these categories

Are interest expenses deductible? The answer is a complicated “yes and no.” Essentially, it depends on the type of interest expense incurred. Although there are technically other types, interest expenses can be lumped into four main baskets for tax purposes. 

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Posted in Individual Tax Planning

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