Author Archive for: ZMWCPA
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Entries by ZMWCPA
By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. But what estate planning means to you specifically depends on who you are. Your age, health, wealth, lifestyle, life […]
Answer: The Hope credit (renamed the American Opportunity credit) and the Lifetime Learning credit are tax credits for taxpayers who pay certain higher education costs. These credits depend on the amount of qualified tuition and related expenses you paid in a given year, as well as the level of your modified adjusted gross income (MAGI). […]
Answer: You may be. There are two education tax credits--the American Opportunity credit (formerly the Hope credit) and the Lifetime Learning credit. To claim either credit in a given year, you must list your child as a dependent on your tax return. In addition, you must meet income limits. For 2014, the maximum American Opportunity […]
Finding the funds to pay for your child's college education is like filling a test tube. The length of the tube represents the cost of education at any one school--tuition, fees, books, room and board, transportation, and personal expenses. The first ingredient is what you'll have to contribute from your own pocket: the expected family […]
Put a College Savings Calculator on your site!
The 2010 Healthcare Act included several significant tax changes scheduled to take effect next year. Listed below is information on two provisions that could impact numerous taxpayers. We have also noted what you can do before year-end to minimize the negative impact of these provisions. $2,500 Cap on Healthcare Flexible Spending Account (FSA) Contributions. Before […]
These days, it's hard to talk about college without mentioning financial aid. Yet this pairing isn't a marriage of love, but one of necessity. In many cases, financial aid may be the deciding factor in whether your child attends the college of his or her choice or even attends college at all. That's why it's […]
Technically, almost everything you own and use for personal, pleasure, or investment purposes is a capital asset. Capital assets include, but are not limited to, homes, household furnishings, stocks, bonds, and mutual funds.
Most of us have more than enough to do. We’re on the go from early in the morning until well into the evening—six or seven days a week. Thus, it’s no surprise that we may let some important things slide. We know we need to get to them, but it seems like they can just […]
- Steps to Estate Planning Success
- Estate Planning: An Introduction
- FAQ: What are the Hope credit and the Lifetime Learning credit?
- FAQ: Now that my child is in college, am I entitled to any education tax credits?
- Finding the Funds to Pay for a College Education
- Savings for College Calculator
- Noteworthy 2013 Healthcare Provisions
Zelnick, Mann and Winikur, PC
Certified Public Accounting Firm
Triad Plaza, Suite 200
201 Presidential Blvd.
Bala Cynwyd, PA 19004-1257
Our office hours are: 9-5, M-F
Phone: (610) 664-0450
Toll-Free: (800) 550-6028
Fax: (610) 664-0955