To pre-pay or not to pre-pay?

To pre-pay or not to pre-pay?

To pre-pay or not to pre-pay? That was the question that was the topic of many discussions relating to taxes at the end of 2017.  However, it only scratches the surface of the issues resulting from the passage of the Tax Cuts and Jobs Act (Act).  Most, if not all,...
Is There a Student in the Family?

Is There a Student in the Family?

You could be eligible for some tax breaks in the form of a deduction or, better yet, a tax credit. Unfortunately, most of these tax breaks phase out based on income so be aware that filing status and income can limit the tax benefits. The American Opportunity Credit...
You Hit the Jackpot! Now What?

You Hit the Jackpot! Now What?

On your recent vacation to Las Vegas or on your night out at The Borgata you finally hit the big jackpot that you’ve been waiting for! Now what are the tax implications? Gambling income can come from various sources such as lotteries, casinos, raffles, bingo, etc....