American Opportunity Credit in St Petersburg Florida

Should you forgo a personal exemption so your child can take the American Opportunity credit?

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If you have a child in college, you may not qualify for the American Opportunity credit on your 2014 income tax return because your income is too high (modified adjusted gross income phaseout range of $80,000–$90,000; $160,000–$180,000 for joint filers), but your child might. The...
Expense Reimbursement in St Petersburg Florida

The importance of accountable expense reimbursement plans

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Most companies cover their employees’ business expenses by reimbursing them for their actual expenses or by paying a travel or mileage allowance. Such arrangements are subject to strict tax rules concerning what qualifies as a legitimate reimbursement arrangement and what is...