Category: Credits

Why I Recommend you OPT OUT of the Advanced Child Tax Credits If You Don’t Need the $$$ Right Now

June 24, 2021June 24, 2021 WDTBS Posted in 2020, American Rescue Plan, COVID19, CreditsLeave a Comment

I’ve received a few questions about the ADVANCED payments on Child Tax credits, and decided to share my thoughts with you all. Unless you really need the advanced child tax payments, I recommend you OPT OUT of receiving them. These payments are ADVANCES on child tax credits you’re expected to receive in 2021. The advancement […]

An Income Tax Preparers’ Secret Loves

March 16, 2015January 30, 2024 mwalkerwade Posted in Credits, Deductions, Form 1040Leave a Comment

I’m sitting here working on my clients taxes and thinking… There are a few things I LOVE to see and hear from my clients. I decided to share a few of them with you. I LOVE to see Form 1099-INT (Interest Income) that is independent from your to do with a home mortgage escrow account. […]

Can You Take the Tax Credit for Your New Electric Vehicle? For Some, But Not All

January 30, 2015January 30, 2024 mwalkerwade Posted in Clean energy, CreditsLeave a Comment

What a great sales and marketing scheme to move more electric vehicles off your sales lot! Tell you customers they can get a tax credit for it, and wallah! People will buy an eco vehicle even if they’re not concerned about their carbon footprint. So sorry… The bubble-buster is here to set the record straight […]