Archives for March 2014

Tax Deductions for Charitable Contributions

IRS Tax Tip #10 from Carpenter, Evert and Associates – Deducting Charitable Contributions IRS Tips on Deducting Charitable Contributions - If you are looking for a tax deduction, making a charitable contribution can be a ‘win-win’ situation. It’s good for them and good for you. Here are eight things you should know about deducting your charitable contributions: You … [Read more...]

Taxable and Nontaxable Income – What’s the Difference?

IRS Tax Tip #9 from Carpenter, Evert and Associates – Taxable Income and Nontaxable Income IRS Tips about Taxable and Nontaxable Income - Are you looking for a hard and fast rule about what taxable income and what is nontaxable income? The fact is that all income is taxable unless the law specifically excludes it. Taxable income includes money you receive, such as wages … [Read more...]

What to Know About Declaring Your Tip Income

IRS Tax Tip #8 from Carpenter, Evert and Associates – Declaring Your Income from Tips Request a free tax organizer from Carpenter, Evert and Associates. If you receive tips at your job, you probably know that the income from tips is taxable. But did you know those concert tickets your favorite customer gave you are also taxable? Or that you are required to report … [Read more...]

Do You Know Your Tax Filing Status?

IRS Tax Tip #7 from Carpenter, Evert and Associates – Your Tax Filing Status Request a free tax organizer from Carpenter, Evert and Associates Not sure what filing status to use when you file your taxes? The IRS has some helpful guidelines: Choosing the Right Filing Status - Using the correct filing status is very important when you file your tax return. You need … [Read more...]

Tax Benefits for Parents

IRS Tax Tip #5 from Carpenter, Evert and Associates – Tax Benefits for Parents It probably seems like everything involved with having children is expensive. One place where kids can actually save you money is when you are filing your tax return. The most popular tax benefits for parents are outlined here in a tax tip from the IRS. Request a free tax organizer from … [Read more...]