A Blog from
Fields and Dennis LLP
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Taxes

The Tax Responsibilities your Family May Be Overlooking

As the year comes to an end, you may be accessing your financial plan in preparation for the New Year. While tax planning is something most working adults are generally informed about, there are tax obligations that some may not be fully aware of. If you have young children, it could come as a surprise…

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College Planning for Special Needs Students

College is an investment in your child’s future and it is no doubt worth it, but with education costs rising, it can certainly be expensive. Planning for your child’s education should be a priority and many benefit from starting early. Starting a “college fund” in a child’s early years can be a smart investment, as…

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Federal Estate and Gift Tax Changes

The tax legislation enacted in late 2010 has five significant components: 1)      The federal estate tax exemption for individuals dying in 2011 and 2012, is $5 million with a federal estate tax rate of 35%.  Beneficiaries  who receive assets from individuals dying in 2011 and 2012 will receive a ‘step up” in bases to the…

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Haste Makes Waste: How to Earn a Higher Tax Refund

When the deadline to file Massachusetts state taxes and federal taxes begins to loom, many people overlook many deductions that could earn them a higher refund.  The most overlooked deductions, according to the Boston Globe article, are child care expenses. In order to qualify both spouses have to work; if they do, they can claim the costs…

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Punish the Prompt?

The delay on tax refunds will mostly affect tax payers who are not waiting until the last minute to file their returns, and who would normally receive refunds earlier.

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