Kids’ Day Camp Expenses May Qualify for a Day Credit

Day camps are common during school vacations and the summer months. Many parents enroll their children in a day camp or pay for daycare so they can work or look for work. Unlike overnight camps, the cost of summer day camp may count towards the child and dependent care credit. Here are 10 things parents should know:

New Job? Don’t Forget About Your 401(K)

One of the most important questions you face when changing jobs is what to do with the money in your 401(k) because making the wrong move could cost you thousands of dollars or more in taxes and lower returns.

Tax Breaks for Teachers and Educators

It’s almost time for the start of the new school year, and teachers and other educators should remember that they can still deduct certain unreimbursed expenses. Deducting expenses such as classroom supplies, training, and travel helps reduce the amount of tax owed when filing a tax return.

Deducting Business-Related Car Expenses

If you’re self-employed and use your car for business, you can deduct certain business-related car expenses.

The first thing small business owners need to know is that there are two options for claiming deductions:

Dirty Dozen Tax Scams For 2022

The “Dirty Dozen” is a list of common tax scams that target taxpayers. Compiled and issued annually by the IRS, it includes a number of aggressive and evolving schemes that taxpayers should avoid. Let’s take a look at this year’s “Dirty Dozen” tax scams:

Tax Tips For Students With Summer Jobs

With teen employment expected to be plentiful this summer, with better pay and more opportunities, chances are good that your high school or college student will have a job this summer.

Here’s what they should know about summer jobs and taxes:

What To Do If You Miss The April Tax Deadline

Monday, April 18, 2022, was the tax deadline for most taxpayers to file their tax returns, but if you haven’t filed a 2021 tax return yet, it’s not too late. Here’s what you need to do:

First, gather any information related to income and deductions for the tax years for which a return must be filed, then contact us at the office of Lahrmer & Company LLC at (866) 474-1238 or office@lahrmercpa.com.