Kirk’s Tips

Each year, many people get a larger refund than they expected. Some find they owe a lot more tax than they thought they would. If this happened to you, review your situation to prevent another tax surprise. Did you marry? Have a child? Have a change in income? Some...

The theft of your identity, especially personal information such as your name, Social Security number, address and children’s names, can be traumatic and frustrating. In this online era, it’s important to always be on guard. The IRS has teamed up with state revenue...

Client Tax Letter 2016 1st Quarter This CPA Client Tax Letter is provided by McDonald Carlson CPAs to its clients through an arrangement with the AICPA, which holds the copyright to the CPA Client Tax Letter and reserves all rights. Permission is required for any...

The premium tax credit is a refundable credit that helps eligible individuals and families with low or moderate income afford health insurance purchased through a Health Insurance Marketplace. To get this credit, you must meet certain eligibility requirements and file...

 “Update your account now.” “You just won a cruise!” “The IRS has a refund waiting for you.” In the cyber world of phishing, the sentences are “bait” – lures from emails, telephone calls and texts all designed to separate you from your cash, your passwords, your...

The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you give. For instance, you must itemize your deductions. Here are six more tips that you...

Do you owe more tax than you can afford to pay when you file? If so, don’t fail to take action. Make sure to file on time. That way you won’t have a penalty for filing late. Here is what to do if you can’t pay all your taxes by the due date. File on time and pay as...

  The Affordable Care Act contains tax provisions that affect the 2014 income tax return you file this year. Almost everyone is affected by the individual shared responsibility provision while only people who purchased coverage through the Marketplace are...

Now is a great time to start planning for the year ahead. These five tips can help you make the most of your spending and saving in 2015. 1. Rethink your spending with the economy in mind. Economists generally believe that inflation promises to stay low in 2015, and...