Entries by Beth Hetrick

Tax Insight–July 2017

Mid-Year Tax Planning When your circumstances change, your tax situation may also change. If you’ve had (or are expecting) any life changes, such as a change in marital status, buying or selling a house, having a baby or changing jobs, please contact me so we can avoid any unpleasant surprises come tax season.   Deducting […]

Tax Insight–June 2017

  Quick Numbers For 2017, the annual gift tax exclusion is $14,000 to each person; the gift tax exemption amount is $5,490,000. The eligible expenses for the child and dependent care credit is capped at $3,000 for one child and $6,000 for two or more children. For 2017, the maximum wage amount subject to social […]

IRS Releases Dirty Dozen Scam List: Don’t be a Victim

Each year, people fall prey to tax scams. That’s why the IRS sends a list of its annual “Dirty Dozen.” Stay safe and be informed – don’t become a victim. If you get involved in illegal tax scams, you can lose money or face stiff penalties, interest and even criminal prosecution. Remember, if it sounds too […]

Obtaining and Claiming a Health Coverage Exemption

The Affordable Care Act requires you and each member of your family to have minimum essential coverage, qualify for an insurance coverage exemption, or make an individual shared responsibility payment for months without coverage or an exemption when you file your federal income tax return. You, your spouse or your dependents may be eligible to claim an exemption […]

Six Tips on Whether to File a 2015 Tax Return

Most people file a tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it. Here are six tips to help you find out if you should file a tax return: General Filing Rules.Whether you need to […]

Who Can Represent You Before the IRS?

Many people use a tax professional to prepare their taxes. Tax professionals with an IRS Preparer Tax Identification Number (PTIN) can prepare a return for a fee. If you choose a tax pro, you should know who can represent you before the IRS. There are new rules this year, so the IRS wants you to […]