by Paula Kennedy, EA | Jul 29, 2021 | Tax
More than 43 million student borrowers are in debt with an average of $39,351 each, according to the research group EducationData.org. If you have student loan debt, you may wonder if you can deduct the interest you pay. The answer is yes, subject to certain limits....
by Paula Kennedy, EA | Nov 10, 2020 | Tax
October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) If you’re finally done filing last year’s return, you might wonder: Which...
by Paula Kennedy, EA | May 26, 2020 | COVID-19
The economic impact of the novel coronavirus (COVID-19) is unprecedented and many taxpayers with a student loan have been hard hit. The Coronavirus Aid, Relief and Economic Security (CARES) Act contains some assistance to borrowers with federal student loans. Notably,...
by Paula Kennedy, EA | Dec 10, 2019 | Tax
As we all know, medical services and prescription drugs are expensive. You may be able to deduct some of your expenses on your tax return but the rules make it difficult for many people to qualify. However, with proper planning, you may be able to time discretionary...
