Saving your money isn’t easy, though when retirement rolls around, you’ll be happy you have some cash stored away. If you work and make contributions to a retirement plan or Individual Retirement Account (IRA), you may be eligible for a specific tax benefit called The Saver’s Tax Credit. Found on tax forms under the name […]
— Read morePaying for educational expenses isn’t easy. At tax time, there are certain educational tax credits that can help offset some higher education costs by lowering the tax liability of households with eligible students. There are even some circumstances where one may be eligible for a tax refund. The two major education tax credits are: American […]
— Read moreFinding quality care for your children while you work or look for work can be costly. Thankfully, the IRS offers the Child and Dependent Care Credit for taxpayers who incur expenses relating to child care in order for them to work. This federal credit also applies to families who pay for the care of an […]
— Read moreThe Garden State has seen its fair share of out-of-state employees joining the workforce. So, for an employee who travels from another state in which they live, to work in New Jersey, has to file multiple tax returns at tax time, right? Not necessarily, as it depends on the state in which you reside thanks […]
— Read moreMany Americans do whatever they have to when it comes to finding stable employment. This can even include crossing state borders to work, though sometimes this can lead to a more complex tax situation. In an effort to simplify tax time for interstate commuters, some states have set agreements so the employee only has to […]
— Read moreAt tax time, those who work in the state of Wisconsin but don’t actually live there may worry that filing their tax return may be more difficult than usual. However, across the United States, working in a border state near your resident state is actually quite common. There are agreements in place between certain states […]
— Read moreNorth Dakota’s workforce isn’t purely comprised of residential employees. Some workers travel from Minnesota or Montana to work in the state of North Dakota, and those who do fall under a special set of tax rules that exempt them from paying taxes in North Dakota on the income they earned there. These rules are known […]
— Read moreTax time can be a bit confusing for some taxpayers, especially those who have multiple forms of income. Sometimes, employees travel into another state to work, and they may worry about having to file a return in each state in which they live and work. However, some states have created certain rules, known as reciprocal […]
— Read moreEmployees in the state of West Virginia who live in another state get a special pass come tax time as long as they are covered by a special agreement between the states known as a reciprocal tax agreement. West Virginia holds reciprocal tax agreements with resident of Kentucky, Maryland, Ohio, Pennsylvania and Virginia. Residents of […]
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