by LittleOwlCPA Admin | Sep 29, 2023 | Family, Tax Planning
For individuals with disabilities, achieving financial independence is a significant goal that can enhance their quality of life and provide them with greater control over their future. ABLE accounts, also known as Achieving a Better Life Experience accounts, offer a...
by LittleOwlCPA Admin | Mar 24, 2023 | Family, Individual Tax, Tax Planning
As the 2023 tax season is upon, it’s important to be aware of the various tax credits that may be available to individual taxpayers. Tax credits are valuable, as they can directly reduce the amount of taxes owed, dollar-for-dollar. Here are a few tax...
by LittleOwlCPA Admin | Sep 16, 2022 | Family, Individual Tax, Tax Planning
In the college savings game, all strategies aren’t created equal. The best savings vehicles offer special tax advantages if the funds are used to pay for college. Tax-advantaged strategies are important because over time, you can potentially accumulate more...
by Tabitha Regan, CPA | Aug 6, 2021 | Family, Tax Planning
It’s Back to School season which is the perfect time to review your college savings strategy. In the college savings game, all strategies aren’t created equal. The best savings vehicles offer special tax advantages if the funds are used to pay for college....
by Tabitha Regan, CPA | Jul 30, 2021 | Family
If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim a partial credit for certain other dependents who are not qualifying children.) The American Rescue Plan Act of 2021 makes substantial,...
by Tabitha Regan, CPA | Jul 16, 2021 | Family, Individual Tax
On April 28, 2021, the White House released a fact sheet for President Biden’s American Families Plan (AFP), which proposes about $1 trillion in investments and $800 billion in tax cuts. There would also be tax increases for those making more than $400,000 per...
