What is the “front office” of a brokerage firm? Simply, it’s a standard term to describe the part of a brokerage that deals directly with clients. Front Office Basics When you buy securities or invest in a hedge fund, the people you are dealing with are actually the front office of the brokerage. The front...
If you, or a generous relative, has set up a trust or other interest-bearing account for your minor child, you may be facing some unique problems related to unearned income when tax time comes around. How do you report your child’s interest income? Should you file a return on behalf of your minor child, or...
Each personal exemption you are able to claim on your yearly tax return is the equivalent of roughly $3400. Children, parents, spouses and other qualifying dependents can allow you to adjust your withholding considerably. If one of your family members passes away over the course of a year, the tax deduction associated with your loved...
With your new child, you’ll be taking on new responsibilities – and new expenses. One way Uncle Sam can help you meet those new expenses is through your tax-free employer-sponsored flexible spending account. Many employers offer this benefit, also sometimes called a reimbursement account, for medical or child care expenses. A dependent-care flexible spending account...
You probably know about the Child Tax Credit, but you might not be aware of additional tax relief that is currently being provided to low income parents with more than two children. The American Reinvestment and Recovery Act of 2009 allows low income tax payers with qualifying children and income to receive an additional child...
Did you know you can get a federal income tax credit just for working? The Earned Income Tax Credit (or EITC) is a special federal income tax credit that is available to low to moderate income working individuals and families. You may be able to qualify for it if your 2008 adjusted gross income is...
If you paid someone to provide daycare or child care services for your dependent children, so that you or your spouse could work or look for work, then you may be entitled to claim the Child and Dependent Care Credit on your federal income tax. In fact, providing paid care or household services to any...
As teenagers we’ve all felt at one point in time that we needed the very latest clothing styles and gear to “fit in” at school. That is why regardless of what you might think of a certain brand of sneakers, the fear of being a total outcast motivates a lot of your teenager’s buying decisions....
It seems like just yesterday they were outgrowing their baby clothes, and now your kids are graduating from high school and starting to look at colleges. Obviously, you want to give your kids the best start in life you possibly can. But these days, even a year of college tuition can cost as much as...
With tuition costs rising with inflation, and financial aid options such as grants and scholarships shrinking even at traditionally affordable state institutions, students are borrowing larger and larger amounts in order to pursue their dreams of a college education. Estimates place the average cost of a student’s loan debt at over $16,000, with one in...
