Individual Tax | Cg Tax, Audit & Advisory

28 May

Student Loan Interest: Can You Deduct It on Your Tax Return?

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May 27, 2020

The economic impact of the novel coronavirus (COVID-19) is unprecedented and many taxpayers with student loans have been hard hit. The Coronavirus Aid, Relief and Economic Security (CARES) Act contains some assistance to borrowers...

21 May

Helpful COVID-19 Links, Individual Tax

Did You Get an Economic Impact Payment That Was Less Than You Expected?

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May 20, 2020

Nearly everyone has heard about the Economic Impact Payments (EIPs) that the federal government is sending to help mitigate the effects of the Coronavirus (COVID-19) pandemic. The IRS reports that in the first four...

14 May

Individual Tax

There’s Still Time to Make a Deductible IRA Contribution For 2019

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May 14, 2020

Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA contribution for the 2019 tax year between now and...

08 May

Coronavirus Tax Filing & Payment, Individual Tax

Do You Have Tax Questions Related to COVID-19? Here Are Some Answers

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May 8, 2020

The Coronavirus (COVID-19) pandemic has affected many Americans’ finances. Here are some answers to questions you may have right now. My employer closed the office and I’m working from home. Can I deduct any of...

30 Apr

Individual Tax

IRA Account Value Down? It Might Be a Good Time For a Roth Conversion

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April 30, 2020

The Coronavirus (COVID-19) pandemic has caused the value of some retirement accounts to decrease because of the stock market downturn. But if you have a traditional IRA, this downturn may provide a valuable opportunity:...

21 Apr

Helpful COVID-19 Links, Individual Tax

Answers to Questions You May Have About Economic Impact Payments

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April 21, 2020

Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part of the Coronavirus Aid,...

16 Apr

Helpful COVID-19 Links, Individual Tax

CARES ACT Changes Retirement Plan and Charitable Contribution Rules

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April 16, 2020

As we all try to keep ourselves, our loved ones, and our communities safe from the Coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of...

12 Mar

Individual Tax, Tax

The 2019 Gift Tax Return Deadline is Coming Up

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March 10, 2020

If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2019 gift tax return. And in some cases, even if...

05 Mar

Individual Tax, Tax

Home is Where the Tax Breaks Might Be

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March 4, 2020

If you own a home, the interest you pay on your home mortgage may provide a tax break. However, many people believe that any interest paid on their home mortgage loans and home equity...

27 Feb

Individual Tax, Tax

Tax Credits May Help With the High Cost of Raising Children

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February 25, 2020

If you’re a parent, or if you’re planning on having children, you know that it’s expensive to pay for their food, clothes, activities and education. Fortunately, there’s a tax credit available for taxpayers with...

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