Two New Tax Benefits Aid Employers Who Hire and Retain Unemployed Workers. Under the Hiring Incentives to Restore Employment (HIRE) Act, two new tax benefits are available to employers who hire workers who were previously unemployed or only working part time. The first, the payroll tax exemption, provides employers with an exemption from the employers [...]

School’s out and many students now have a summer job? Some students may not realize they have to pay taxes on their summer income. Here are the six things the IRS wants everyone to know about income earned while working a summer job. 1. All employees fill out a?W-4, Employee’s Witholding Certificate when starting a [...]

Summertime Child Care Expenses May Qualify for a Tax Credit The cost of day camp may count as an expense towards the child and dependent care credit. Expenses for overnight camps do not qualify. If your childcare provider is a sitter at your home or a daycare facility outside the home, you’ll get some tax [...]