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Contributions to an Educational IRA must be completed by the due date of the return 4/15/XX , NOT including extensions.

Contributions to an Educational IRA must be completed by the due date of your individual tax return, (generally 4/15/XX) NOT including extensions.

Yes. The American Opportunity and Lifetime Learning credits are two federal credits available for qualifying higher education expenses paid to eligible educational institutions.
Qualified educational expenses would include tuition, required fees and course related books, but would NOT include room and board, insurance, transportation or other personal living or family expenses, medical expenses, supplies or equipment.
The credits are subject to income limitations. The credits are not available for married filing separate returns. Both credits are claimed on IRS Form 8863.
Speak to your local CPA about the tax benefits of claiming these credits.

No. Any unused Lifetime Learning credit cannot be carried forward to future years. The phase out for married taxpayers is Adjusted Gross Income between $107,000-$127,000.
The phase out is between $53,000 and $63,000 for single, head of household or qualifying widower(s) filing status taxpayers. Married filing separately status are not allowed a Lifetime Learning credit.

No. Any unused American Opportunity credit cannot be carried forward to future years. The American Opportunity Tax Credit remains in effect through 2016.
A credit is available up to $2,500 per student for the first 4 years of higher education for tuition, course related books, activity fees and any equipment that must be purchased from the educational institution as a condition of enrollment. Room & Board expenses do not qualify.
The credit begins to phase out for single taxpayers who have adjusted gross income between $80,000 and $90,000 and for joint tax filers when adjusted gross income is between $160,000 and $180,000. The credit is unavailable to taxpayers whose adjusted gross income exceeds the $90,000 and $180,000 thresholds..

Any unused Child Tax Credit cannot be carried forward to future years.
The credit begins its phase-out at Adjusted Gross Income of $110,000 for married taxpayers filing joint returns.
For single taxpayers or those filing as head of household the threshold is $75,000.
For married filing separate returns the threshold is $55,000.

Income tax represent .396% or more of the total revenues collected. It is the largest revenue generator for the federal government.

Generally, IRS no longer requires receipts for business transportation and entertainment unless the expense exceeds $75. A business diary with details of the time, place, person you met with and the reason for the meeting should always be maintained. Your expenses for lodging always require detailed receipts, regardless of the amount.

A Reverse stock split strategy is when there is a proportionate decrease in the number of shares, but not the total value of shares of stock held by shareholders. Shareholders maintain the same percentage of equity as before the split. A 1-for-3 split would result in stockholders owning one share for every three shares owned before the split. After the reverse split, the firm's stock price is, three times the before reverse split price. A firm generally institutes a reverse split to boost its stock's market price. Some managers think this strategy supposedly attracts investors.

The Repurchase of stock technique is when the corporation pays cash to the firm's shareholders that provides more preferential tax treatment for shareholders than dividends. Generally, after the repurchase, less stocks are available and the price per share increases. Treasury stock is the name given to previously issued stock that has been repurchased by the firm. A repurchase is achieved through either a , open market, purchase, tender offer or Dutch auction.