TaxTip

Pointers, prep tips and analysis from the experts who do this every day.

dependent
May 22nd, 2015

College Graduate: Are you still a dependent?

Ed note: Over and over again, we hear from clients who are confused about dependency. This is particularly true for recent graduates who may be wondering whether they should claim a personal exemption or whether their parents can still file with them as a dependent. Here’s some help to clear that up. Leer en español. So you’ve just […]

college
May 15th, 2015

What If Someone Else Pays Off Your Student Loans?

Ed note: Congratulations on your graduation! I bet you are really excited to start paying down those student loans. No? Well, let’s daydream for a minute that the loans are magically paid off. It happens! But there may be tax consequences. There are a few situations in which someone else may pay your student loans […]

budget
May 13th, 2015

Understanding College Financing and Student Loan Debt

Ed note: If you (or your child) are headed off to college in the fall, you may be working furiously to determine how it will be financed. There are tons of options: scholarships, grants, many different loans and more. How can you decide what amount to borrow? Here are some helpful tips. Leer en Español. […]

career
May 12th, 2015

Why Your Child Might Not Need a Four-Year Degree

Ed note: We know that – on average – amount of education correlates to income. As in: more education, more money. BUT, that only looks at the averages. What does it really mean for certain professions? Miranda Marquit digs into why some might actually do better by forgoing a traditional degree program.  For decades, the […]

abroad
Apr 28th, 2015

Expat Tax Q&A: What if I Haven’t Been Filing My U.S. Returns?

Ed note: H&R Block Expat Tax Services is a highly specialized team of tax attorneys, CPAs and enrolled agents whose singular focus is expat tax preparation for Americans abroad. These tax situations can be very complex, so we are featuring some answers to common questions here. Today’s post focuses on what to do if you […]

deduction
Apr 24th, 2015

What Freelancers Can Do to Reduce Their Tax Bill

Ed note: Tax planning can be complicated, especially when you work for yourself. It’s always best to talk about your specific situation with a professional to get advice, however, David Ning has a few helpful tips for things you should start thinking about now. Are you a freelancer committed to paying less in taxes? Then […]