Installing solar panels or making other home improvements may qualify taxpayers for home energy credits

Homeowners who make improvements like replacing old doors and windows, installing solar panels or upgrading a hot water heater may qualify for home energy tax credits. They should know what these credits can do for them – and be careful of exaggerated claims companies trying to get their business may make. There are two tax credits…

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Picking the right third-party payroll service provider helps protect businesses

Not all third-party payroll service providers are created equal. A trusted, qualified company can help keep businesses secure and tax compliant. An unreliable or fraudulent company can lead to missed deposits, theft or returns not being filed. While many third-party payroll service providers give quality service, unprofessional or fraudulent companies will take the money and…

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Indiana 529 Accounts

There are some great changes happening for Indiana 529 accounts starting in 2024. People will begin to have the ability to roll 529 accounts to Roth IRA’s in 2024. There are some limitations but it is an excellent program. Often, people ask, “Why should I put money into a 529 if I don’t know if…

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Tax tips for new parents

Kids are expensive. Whether someone just brought a bundle of joy home from the hospital, adopted a teen from foster care, or is raising their grandchild. There are several tax breaks that can help. Here are some tax tips for new parents   Get the child a Social Security or Individual Tax Identification number To claim…

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IRS: Going green could help taxpayers qualify for expanded home energy tax credits

WASHINGTON – The Internal Revenue Service reminds taxpayers that making certain energy efficient updates to their homes could qualify them for home energy tax credits. The credit amounts and types of qualifying expenses were expanded by the Inflation Reduction Act of 2022. Taxpayers who make energy improvements to a residence may be eligible for expanded home…

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Unscrupulous tax preparers may tempt taxpayers into fraud

Unscrupulous tax preparers and tax fraud promoters make big promises – and charge high fees – but taxpayers are legally responsible for what’s on their return. Taxpayers should use only reputable tax professionals and know what is on their tax return. Although scammers are most active during filing season, they operate year-round, and taxpayers should always be…

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