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Tag: qualified expenses

Posts Tagged ‘qualified expenses’

7 Important Life Changes That Impact Your Taxes

Posted by Manisha Hansraj on August 6, 2019
Last modified: October 23, 2019

life changes and taxes

With life, situations change and they come with certain tax implications.

One year makes a difference. From getting married, transitioning into a new job to having your own bundle of joy, your tax situation changes as well.

Here are some examples.

1. Tying the knot

Getting married is a big step in everyone’s lives. Along with getting married, you now are able to file jointly which should lower your tax rate. For the 2018 tax year, your standard deduction is now $24,000. With that in mind, don’t forget to update your allowances (Form W-4) at your job. (more…)

What is a 1098-T Form?

Posted by Manisha Hansraj on February 27, 2019
Last modified: February 28, 2019

1098-t

Unfortunately, education isn’t free for some students.

If you’re a college student, parent, guardian or anyone paying out-of-pocket for tuition, fees, and required course materials needed for enrollment, you will receive a Form 1098-T. This tuition statement form reports all of your transactions, which means the payments you make to your school.

What does a 1098-T statement look like?

(more…)