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Dependent Support Worksheet

This worksheet defines what is meant by support and includes a worksheet to help calculate the expenses paid to determine the financial support of an individual.

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Individual Income TaxClare FazackerleyOctober 10, 2018Tax, Worksheet, Dependents
Divorce and Taxes

This handout defines the tax status of taxpayers who are separated or divorcing. It also provides information on property transfers, alimony, and child support.

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Planning & Life Issues, Individual Income TaxClare FazackerleyOctober 9, 2018Tax, Divorce, Separation, Filing Status, Alimony, Child Support, Settlements
Education Tax Benefits

This handout discusses the education tax benefits. It also provides a comparison of the education credits and discusses the education savings plans.

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Planning & Life Issues, Individual Income TaxClare FazackerleyOctober 8, 2018Tax, Education, College, Education Credit, Education Savings, Higher Education, College Expenses, Deductions
Early Retirement Distributions

This handout highlights the rules regarding the exception to the 10% penalty for early retirement distributions. The handout also discusses the possible risks involved in implementing this strategy.

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Planning & Life Issues, Individual Income TaxClare FazackerleyOctober 7, 2018Retirement, Distributions, Planning, Early Retirement, Penalties
Estimated Taxes

This handout defines the requirement to pay taxes through withholding and/or estimated payments. It includes estimated tax payment due dates.

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Individual Income TaxClare FazackerleyOctober 7, 2018Tax, Estimated Payments, Estimated Taxes, Withholding, Self-Employment, Net Investment Income Tax
Families With Children

This handout provides a listing of various tax credits available for families with children. The rules and limits for each credit are outlined.

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Individual Income TaxClare FazackerleyOctober 6, 2018Tax, Children, Tax Credits, Child Tax Credit, Dependents, EITC, Adoption, Education
Filing Status

This handout helps the taxpayer determine his or her tax filing status for the year. The handout includes a chart with the special rules for taxpayers filing Married Filing Separately (MFS).

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Individual Income TaxClare FazackerleyOctober 5, 2018Tax, Filing Status, Single, Married, Married Filing Separately, Married Filing Jointly, Head of Household, Marital Status, Divorce, Separation, Widower
Foreign Bank and Financial Accounts

This handout provides tax filing guidance for taxpayers who have financial assets in foreign countries. The information contains filing requirements and penalty information for failure to file.

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Individual Income TaxClare FazackerleyOctober 4, 2018Tax, Foreign Bank Accounts, Foreign Assets, Assets Abroad, International, FinCen 114, FBAR
Gambling Log

This handout highlights the tax reporting requirement for taxpayers who have gambling winnings. It also includes a worksheet to track gambling activity.

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Individual Income TaxClare FazackerleyOctober 3, 2018Tax, Gambling, Gambling Winnings, Gambling Losses, Losses, Deductions, Worksheet, Gambling Activity
Health Savings Accounts (HSAs)

This handout discusses the provisions of Health Savings Accounts (HSAs). The rules and limitations are explained.

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2017, Individual Income TaxClare FazackerleyOctober 1, 2018Tax, HSAs, Health savings accounts, Healthcare, Health expenses, Health insurance
Death of a Taxpayer

This handout discusses the duties of a personal representative for a taxpayer who has died. It also indicates tax reporting requirements for a deceased taxpayer and how to allocate the income in the year of death.

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Planning & Life IssuesClare FazackerleySeptember 30, 2018Planning, Estate Planning, Executor, Deceased Relative, Taxes After Death
Social Security and Medicare

This handout highlights the components of Social Security retirement and disability benefits. It also provides an Overview of Medicare eligibility and benefits.

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Planning & Life IssuesClare FazackerleySeptember 30, 2018Planning, Retirement, Retirement Planning, Retirement Income, SSI, SSRI, SSDI, Normal Retirement, Early Retirement, Medicare Supplement, Medicare Advantage
Reverse Mortgages

This handout contains information for homeowners over age 62 who may be interested in converting the equity in his or her home into cash. Included is guidance on who qualifies for a reverse mortgage and examples of reverse mortgage situations.

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Planning & Life IssuesClare FazackerleySeptember 30, 2018Planning, Retirement, Retirement Planning, Retirement Income
Retirement Income

This handout discusses a taxpayer's various sources of retirement income including Social Security, pension, and IRA distributions. Age-specific requirements and tax implications are highlighted.

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Planning & Life IssuesClare FazackerleySeptember 30, 2018Planning, IRA, Retirement, IRA Restrictions, SSRI, SSI, Retirement Income, Retirement Planning, Retirement Distributions, Roth IRA, Retiring Early, Early Retirement, Saving for Retirement
Individual Retirement Accounts - Traditional IRAs

This handout discusses the tax advantages and rules of traditional IRAs. It also includes the phaseouts for deducting contributions for taxpayers who are also covered by an employer-sponsored plan.

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Planning & Life IssuesClare FazackerleySeptember 30, 2018Planning, IRA, Retirement, Benefits of Traditional IRA, IRA Restrictions, What is a Traditional IRA
Individual Retirement Accounts - Roth IRAs

This handout discusses the tax advantages of a Roth IRA. It includes information on contribution and conversion rules.

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Planning & Life IssuesClare FazackerleySeptember 30, 2018Planning, IRA, Retirement, Benefits of Roth IRA, What is a Roth IRA, Roth IRA Restrictions
Individual Retirement Accounts - Required Minimum Distributions (RMDs)

This handout reviews the rules for required minimum distributions from IRAs and defined contribution plans.

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Planning & Life IssuesClare FazackerleySeptember 30, 2018Planning, IRA, Distributions, Retirement, Required Distributions
Individual Retirement Accounts - Kinds of IRAs and Prohibited Transactions

This handout discusses the various types of IRAs and the tax benefits and implications of each. It also discusses the effect of the taxpayer's participation in prohibited transactions within these types of accounts.

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Planning & Life IssuesClare FazackerleySeptember 30, 2018Planning, Saving for Retirement, IRA, Roth IRA Restrictions, Beneficiary IRA, Will, IRA Restrictions
Individual Retirement Accounts - Inherited IRAs

This handout discusses the choices a beneficiary has when inheriting a traditional or Roth IRA. It includes information on required minimum distributions.

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Planning & Life IssuesClare FazackerleySeptember 30, 2018Planning, Saving for Retirement, IRA, Roth IRA Restrictions, Beneficiary IRA, Will
Individual Retirement Accounts - Backdoor Roth IRA

This handout reviews the rules which allow higher income individuals to bypass income limitations and effectively make a Roth IRA contribution.

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Planning & Life IssuesClare FazackerleySeptember 30, 2018Planning, Saving for Retirement, Retirement Planning, IRA, Retirement Savings, Roth IRA Restrictions
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1TaxFinancial
5931 Beacraft Avenue,
Cincinnati, OH, 45213,
United States
(513) 794-1829 clare@1taxfinancial.com
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Clare Fazackerley CPA LLC dba 1TaxFinancial is a registered investment adviser offering advisory services in the States of Ohio and Colorado and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by 1TaxFinancial in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption. All written content on this site is for information purposes only. Opinions expressed herein are solely those of 1TaxFinancial, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.