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ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, BY A CLIENT OR ANY OTHER PERSON OR ENTITY FOR THE PURPOSE OF (i) AVOIDING PENALTIES THAT MAY BE IMPOSED ON ANY TAXPAYER OR (ii) PROMOTING, MARKETING OR RECOMMENDING TO ANOTHER PARTY ANY MATTERS ADDRESSED HEREIN.
Author Archives: Carol
Getting Schooled – Maximizing Education Tax Credits
Pay tuition. Get tax credits. $2,500 here; $2,000 there. Education credits are seemingly straightforward but are they as straightforward as they seem? Not really and not always. Shameless plug. We just make it look straightforward. REINFORCING THE BASICS. The American … Continue reading
Posted in Individual Taxes
Tagged American Opportunity Tax Credit, AOTC, Carol McAtee, Carol McAtee & Associates, Education Credits, Lifetime Learning Credit, LLC, The Chainsmokers, Tyra Banks
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Getting Paid to Reduce Your Carbon Footprint – Residential Energy Credits.
Getting Paid to Reduce Your Carbon Footprint – Residential Energy Credits. REINFORCING THE BASICS! Nuclear, bad. Fossil fuels, bad. Big carbon footprints, bad. Our government encourages renewable or sustainable energy as a means for energy security, job creation, climate control, … Continue reading
Posted in Individual Taxes, Taxes
Tagged McAtee & Associates, Qualified Energy Efficient Property, Residential Energy Credits, solar, solar panels
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Getting To That 20%
Perhaps the biggest change to your business and individual taxes is the Section 199A, Qualified Business Income Deduction (QBID). Your complimentary trip down Memory Lane (aka link to a Carol McAtee archived blog) – TCJA and What in the World … Continue reading
Posted in Business Taxes, Section 199 A, Taxes, TCJA
Tagged 20% business deduction, Sec 199A, Taxes, TCJA
45 Comments
Playing With Building Blocks
HERE’S WHAT’S UP! The “Post Card 1040” is here! Except it’s not a post card. It is a “building block”. It’s smaller. But not much smaller. Because it’s only on half the page. It’s shorter. But not so much. Because … Continue reading
Posted in Uncategorized
1 Comment
Make That Kid Work For You. Part 2 of 2. No Kidding, The Kiddie Tax
Last week we broke the news that according to the Department of Agriculture, with middle-class income of $59,200-$107,000, it is going to cost you a whopping $233,610! to raise that kid until the age of 17. Families with lower incomes … Continue reading
Posted in Individual Taxes, Tax Planning, Taxes
Tagged Carol McAtee, Kiddie Tax, TCJA, TCJA And The Kiddie Tax
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Make That Kid Work For You. Part 1of 2. Get Credit Where Credit’s Due.
HERE’S WHAT’S UP! With middle-class income of $59,200-$107,000, it is going to cost you a whopping $233,610! to raise that kid until the age of 17, says the Department of Agriculture. Families with lower incomes are expected to spend $174,690, … Continue reading
Posted in Individual Taxes, Tax Planning
Tagged Child & Dependent Care Credit, Child Tax Credit, Earned Income Credit, McAtee & Associates, Tax Planning
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New Year Resolution.
HERE’S WHAT’S UP! Conventional wisdom: It’s never too late to do financial planning. Carol’s wisdom: It’s never too early to take care of your money. 2019 Withholding Calculator REINFORCING THE BASICS. What is Retirement? Retirement is the withdrawal from an … Continue reading
Posted in Individual Taxes, Tax Planning
1 Comment
Government Doesn’t Run on Dunkin’!
Here’s what’s up! The longest ever paid vacation for 380,000 furloughed government employees. The longest ever indentured servitude for 420,000 government employees and the Coast Guard as they work without pay. All courtesy of the longest-ever partial government shutdown. By … Continue reading
Posted in IRS, Taxes
Tagged Advanced Premium Tax Credit, Congress, Government shutdown, IRS, Taxes, The View
2 Comments
“Voluntary Compliance” My (fill in the blank)!
Here’s what’s up! America needs tax compliance to pay government’s bills. In all seriousness, voluntary compliance is a principle that we will cooperate with the tax system by filing honest and accurate annual returns and receive excellent customer service along … Continue reading
Posted in Business Taxes, General Interest, Individual Taxes, IRS, Taxes
Tagged frivolous tax argument, IRS, tax code, voluntary compliance
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Happy New Year
The Holidays are officially over. Welcome to this week’s blog: Happy New Year REINFORCING THE BASICS. All of us at McAtee & Associates wish all of you a Happy New Year filled with all the joys and successes, fun and … Continue reading
Posted in General Interest, Holiday
Tagged Happy New Year, McAtee & Associates
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