Tag Archives: Sarasota Accountant

529 Lesson Plan: High Scores for 529 College Savings Program

Looking for a tax-advantaged college savings plan that has no age restrictions, no income phaseout limits, no residency requirements — and one you can use to pay for more than just tuition? Consider the 529 savings plan, an increasingly popular … Continue reading

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What Tax Deductions Are Still Available to Me?

Tax reform measures are enacted frequently by Congress, which makes it hard for U.S. taxpayers to know which deductions are currently available to help lower their tax liability. In fact, the head of the IRS once said that millions of … Continue reading

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What Is the Alternative Minimum Tax?

Is an individual taxpayer, you are subject to two tax systems, the regular income tax and the alternative minimum tax (AMT). You are liable for the larger, and only the larger, of the two taxes. The original purpose of the … Continue reading

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