What is the American Opportunity Credit?

Category : Tax

Q1. Are there any changes to the tax credits for college expenses?

A. The American opportunity tax credit, which expanded and renamed the already-existing Hope credit, can be claimed for tuition and certain fees you pay for higher education in 2009 and 2010.

Q2. The Hope credit originally applied only to the first two years of college. Has that changed?

A. Yes. The American opportunity tax credit can be claimed for expenses for the first four years of post-secondary education.

Q3. How much is the American opportunity tax credit worth? → Continue

Deduct Job Search Expenses

Category : Tax

Job Search Expenses are deductible under Itemized Deduction. But as with most itemized deduction, it is better to take the Standard Deduction if it is higher. → Continue

What to bring for Tax Preparation

Category : Tax

Things to bring

  • Last year’s Federal and State tax returns (for new clients)
  • Income/Wage statements:
    • W-2’s
    • 1099’s
    • Alimony received or paid
    • Commissions received statement
    • Brokerage account year-end statements
    • ESPP statements
    • Stock options sale papers
    • Rental property income and expenses
    • Partnership, S Corp, trusts, or estate yearly statements
    • Pension or retirement income statements
    • Social security income yearly statement
    • Unemployment income yearly statement
    • State income tax refund statement
    • Lottery winnings (and lottery losses, if you have winnings)
  • Car, motor home, and boat registration paperwork
  • Donation receipts
  • IRA contributions
  • Child care expenses and provider information
  • Medical expenses
  • State taxes paid
  • Unreimbursed employment-related expenses
  • Job-related educational expenses
  • Casualty or theft losses
  • Foreign taxes paid


  • Mortgage interest year-end statement
  • Home equity year-end statement
  • Property tax information
  • If you sold your home, purchase and home improvement information
  • Home Loan


  • Income and expense reports
  • Mileage logs for autos
  • Receipts for business assets purchased


  • Tuition and education fees
  • Student loan information
  • Grants and scholarship information