As we head toward gift-giving season, you may be considering giving cash or securities to your loved ones. Taxpayers can transfer amounts free of gift taxes to their children or others each year through the use of the annual federal gift tax exclusion. For 2019, the exclusion is $15,000 to each person. If you’re married,
tax credit Archives - Crawford Ellenbogen
Dec 18, 2019
Adopting a child? Bring home tax savings with your bundle of joy
- By Ellenbogen
- Taxes
- 0 Comments
Oct 15, 2019
Apr 4, 2019
Could your business benefit from the tax credit for family and medical leave?
- By Ellenbogen
- Business
- 0 Comments
The Tax Cuts and Jobs Act created a federal tax credit for employers that provide qualified paid family and medical leave to employees. However, it’s subject to numerous rules and is only available for the 2018 and 2019 tax years. An eligible employer can claim a credit equal to 12.5% of wages paid to qualifying
Mar 26, 2019
Stretch your college student’s spending money with the dependent tax credit
- By Ellenbogen
- Education, Taxes
- 0 Comments
If you’re the parent of a child age 17 to 23, and you pay all (or most) of his or her expenses, you may be surprised to learn you’re not eligible for the child tax credit. But there’s a $500 dependent tax credit that may be available to you. That can provide some extra spending