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Cool Gel ’n Cap Can Help Ease Earache Pain

Cool Gel ’n Cap Can Help Ease Earache Pain

Cool Gel ’n Cap, a unique first aid cap for children developed right here in Western New York, can help relieve your child’s fear and discomfort from bumps and bruises, earaches, ear infections and headaches. In this week’s article, we’ll cover the topic of earaches.

Earaches in children are a periodic source of discomfort, particularly in toddlers. In fact, toddlers have about four earaches per year, on average.

What's the difference between an earache and ear infection? According to Dr. Alan Greene at www.drgreene.com, “Earaches and ear infections overlap each other, but are not identical. This often causes confusion. An earache is the feeling of pain in the ear.

Six Tax Tips to Make Tax Filing a Breeze

Six Tax Tips to Make Tax Filing a Breeze

Tax preparation shouldn’t be so stressful. The IRS has put together six tips to help make your tax filing experience a breeze this year.

1. Don’t Procrastinate Resist the temptation to put off your taxes until the very last minute. Rushing to meet the filing deadline may cause you to overlook potential sources of tax savings and will likely increase your risk of making an error.

2. Visit the IRS Website In 2010, more than 304 million visits were made to http://www.irs.gov.

What Parents Should Know about Their Children’s Investment Income

What Parents Should Know about Their Children’s Investment Income

Parents need to be aware of the tax rules that affect their children’s investment income. Here are four facts from the IRS that will help parents determine whether their child’s investment income will be taxed at the parents’ rate or the child’s rate:

1. Investment Income Children with investment income may have part or all of this income taxed at their parents’ tax rate rather than at the child’s rate. Investment income includes interest, dividends, capital gains and other unearned income.

2.

Health Insurance Tax Breaks for the Self-Employed

Health Insurance Tax Breaks for the Self-Employed

Here is some information from the IRS about a special tax deduction for the self-employed. You may be able to deduct premiums paid for medical and dental insurance and qualified long-term care insurance for you, your spouse, and your dependents if you are one of the following:

  • A self-employed individual with a net profit reported on Schedule C (Form 1040), Profit or Loss From Business, Schedule C-EZ (Form 1040), Net Profit From Business, or Schedule F (Form 1040), Profit or Loss From Farming.
  • A partner with net earnings from self-employment reported on Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc., box 14, code A.
  • A shareholder owning more than 2% of the outstanding stock of an S corporation with wages from the corporation reported on Form W-2, Wage and Tax Statement.

Get Credit for Making Your Home Energy Efficient or Buying Energy-Efficient Products

Get Credit for Making Your Home Energy Efficient or Buying Energy-Efficient Products

Taxpayers who made some energy efficient improvements to their home or purchased energy-efficient products last year may qualify for a tax credit this year. The IRS wants you to know about these six energy-related tax credits created or expanded by the American Recovery and Reinvestment Act of 2009.

1.         Residential Energy Property Credit This tax credit is for homeowners who make qualified energy efficient improvements to their existing homes. This credit is 30 percent of the cost of all qualifying improvements. The maximum credit is $1,500 for improvements placed in service in 2009 and 2010 combined.

Four Credits That Can Pay You at Tax Time

Four Credits That Can Pay You at Tax Time

You might be eligible for a valuable tax credit. A tax credit is a dollar-for-dollar reduction of taxes owed. Some credits are even refundable, which means you might receive a refund rather than owe any taxes at all. Here are four popular tax credits you should consider before filing your 2010 Federal Income Tax Return:

1.         The Earned Income Tax Credit is a refundable credit for certain people who work and have earned income from wages, self-employment or farming. Income, age and the number of qualifying children determine the amount of the credit. EITC reduces the amount of tax you owe and may also give you a refund.

Seven Tips About Rental Income and Expenses

Seven Tips About Rental Income and Expenses

Do you rent property to others? If so, you’ll want to read the following seven tips from the IRS about rental income and expenses.

You generally must include in your gross income all amounts you receive as rent. Rental income is any payment you receive for the use of or occupation of property. Expenses of renting property can be deducted from your gross rental income. You generally deduct your rental expenses in the year you pay them.  Publication 527, Residential Rental Property, includes information on the expenses you can deduct if you rent property.

1.         When to report income. You generally must report rental income on your tax return in the year that you actually receive it.