Christine Hradsky No Comments

Are You Eligible for the New Dependent Credit and HOH Filing Status?

HOH

The IRS has clarified a new $500 tax credit for dependents who are not qualifying children under the age of 17.

The IRS continues to publish guidance to clarify provisions of the Tax Cuts and Jobs Act (TCJA). Here’s what you need to know about qualifying for the new $500 tax credit for dependents and beneficial head of household (HOH) filing status based on having a non-qualifying-child dependent.  Read more

Christine Hradsky No Comments

Work Opportunity Tax Credit: What Business Owners Need to Know

Tax Credit

Work Opportunity Tax Credits are available to those who empolyee members of ‘targeted’ groups.

The Work Opportunity tax credit (WOTC) is a federal income tax credit that’s available to businesses that hire members of certain “targeted” groups. Here’s how your business may be able to benefit from this potentially lucrative tax break. Read more