Tax Q & A

To be eligible for the American Opportunity Credit, the student is required to be in pursuit of a degree or another recognized education credential and must be enrolled at least half-time at the start of the tax year. The...

When more than one person wants to claim a child on their tax return, sorting it out becomes complicated. Not only are there five tests to meet for a child to be considered a "qualifying child," but there is also a...

Most people aren't aware of the tax obligations associated with lottery winnings, as it feels more like a gift or miracle than hard earned wages. Be that as it may, lottery earnings are generally reported to the winner on a...

Through a partnership with ACI Worldwide’s OfficialPayments.com and the PayNearMe Company, the IRS is currently offering this cash payment alternative at participating 7-Eleven stores in 34 states. In a statement, IRS...

Hey Dave, If my ex-wife lives with me and I provided more than half of her financial support will I be considered single status or head of household? Moe Moe, The answer to this question provides a good illustration of how the...

Hey Dave, I’m legally married and still live with my spouse. We both file our taxes separately. I want to know if I can file as head of household while he files as married filing separately since I make more money to take...

Hey Dave, I have a question about a head of household qualification. I was married for over a decade before my husband and I divorced. My ex-husband later passed away, which left his mother, my ex-mother-in-law, needing someone...

Hey Dave, There are only two months left in the year. Is there anything I should be doing to make sure I don’t end up owing a bunch of money this year? I have my own Schedule C business and I would like to know where I stand...

Starbucks? Coffee beans? Lattes? What do they have to do with taxes? Don’t worry, we will get to that! But first, let’s discuss your Golden Years again, shall we? How you plan to fund that trip to Australia? Gifts for grandkids...