If you paid someone to care for your child, spouse or dependent (i.e., parent) this year, you may be able to claim the Child and Dependent Care Credit on your Federal income-tax return. Below are …

If you are in business for yourself or carry on a trade or business as a sole proprietor or an independent contractor, you generally would consider yourself self-employed and you would file IRS …

To take the deduction, the IRS requires the home office to be your principal place of business and it must be used exclusively and on a regular basis. According to the U.S. Small Business …

Every taxpayer has a set of fundamental rights. You should be aware of these rights when you interact with the Internal Revenue Service. There are 10 broad categories: 1. The right to be informed . …

Formerly called the Retirement Savings Contributions Credit, the Saver’s Credit gives a special tax break to low-to-moderate income workers who are saving for retirement.  Contributions to a …

Charitable contributions made to qualified organizations may help reduce your taxable income and lower your tax bill. The IRS has put together the following guidelines to help ensure your …

Are you paying more tax than you need to? When it comes to filing taxes, getting the best returns is not about skill—it’s about what you know. Here are some tax strategies you may have …

Mistakes on tax returns mean they take longer to process, which in turn could cause your refund to arrive later. The IRS cautions against these common errors to ensure your …

Are you investing in after-tax Roth accounts offered by the Deferred Compensation 457(b)/401(k) Plans of the City of New York? You should know these Roth account balances are …

The Social Security benefits you received in 2021 may be taxable. Each January, you should receive a Form SSA-1099 (Social Security Benefit Statement) which will show the total amount of your …

Q.: I am 22 and in my first year of teaching for the NYC Department of Education. As a rookie teacher I can only afford to save $3,000 for each of the first two years. Which plan do you suggest I …

Before you file your 2021 tax return, you should make sure you have all the needed documents including all your Form W-2s. You should receive a Form W-2, Wage and Tax Statement, from each of your …