Worksheets & Forms
Worksheets
- Auto Expense Worksheet - View
- Business Worksheet - View
- Business Worksheet Direct Sales - View
- Child & Dependent Care Worksheet - View
- Home Office Worksheet - View
- Medical Expense Worksheet - View
- Home Expense Substantiation Worksheet - View
- Rental Property Worksheet - View
- Multiple Cities Worksheet - View
Financial Calculators
Please use the calculators below to assist in the planning of major purchases and life-changing decisions. Then let us help you in the planning stages of these decisions. We can offer you an outside perspective and objective opinions and hopefully save you from headaches and financial strains.
Tax Links
While we don't want you to leave us, we do want to offer other sites that might be beneficial or of interest for you.
Where's my Refund? Find out the status of your refund.
Internal Revenue Service An online resource to find the latest in tax law
U.S. Treasury Department Get the latest government-issued press releases and other national budget/economy details
Small Business Administration Business resource available for small business research
Planning Tools
We hope you will find these articles, decision tools, and FAQs helpful and informative. We have included various topics on business ownership, education planning, government benefits, personal finance, special situations and tax planning (to name a few).
Tax Planning
Articles
General tax planning
- Am I having enough withheld?
- Choosing an income tax filing status
- Help! I can't pay my tax bill
- Income tax planning and 529 plans
- Surviving an audit
- Tax benefits of home ownership
- Tax planning for income
- Tax planning for the self-employed
- Taxation of investments
- Year-end tax planning
Tax credits and deductions
- Education tax credits
- Personal deduction planning
- Qualifying for the home office deduction
- Understanding personal tax credits
Taxes and insurance
Decision Tools
FAQs
General tax planning
- Am I having enough tax withheld from my paycheck?
- Are my Social Security benefits subject to income tax?
- Are scholarships and grants subject to federal income tax?
- Do I have to file a federal income tax return?
- Do I have to pay U.S. taxes when I work abroad?
- How did the Jobs and Growth Tax Relief Reconciliation Act of 2003 change capital gains tax rates?
- I don't have the cash to pay my taxes. What can I do?
- I have investment property. What does basis mean, and how do I determine the basis of my property?
- I received a state tax refund last year. Must I include that amount as income on my federal return this year?
- My spouse passed away this year. When I file my taxes, what filing status should I claim?
- What is my tax bracket?
- What is the alternative minimum tax?
- What is the basis of property received as a gift?
- What is the kiddie tax?
- What penalties and interest will I be charged for paying and filing my federal income taxes late?
- What's the difference between an "injured spouse" and an "innocent spouse"?
- Will I have to pay tax on my investment income?
Tax credits
- Can I take the credit for the elderly or disabled?
- Can I take the tax credit for child care?
- Now that my child is in college, am I entitled to any education tax credits?
- What are the Hope credit and the Lifetime Learning credit?
- What is the child tax credit?
- What is the difference between the child tax credit and the child and dependent care tax credit?
- What is the earned income credit and who qualifies for it?
Tax deductions
- Can I deduct home office expenses?
- Can I deduct premiums paid for long-term care (LTC) insurance?
- Can I deduct the cost of improvements or repairs I've made to my home?
- How do I deduct and substantiate my gambling losses?
- I paid my mother's real estate taxes last year. Can I deduct this on my tax return?
- I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?
- If I prepay next year's taxes this year, can I deduct them this year?
- If I work at home occasionally, am I entitled to a home office deduction?
- Is student loan interest deductible?
- My spouse and I are filing separate returns. Can we both itemize our deductions? If so, how do we split the deductions?
- My town has assessed against me a real estate betterment for new sewer lines installed in my street. May I deduct this amount on my tax return?
- We just bought our first home. What can we deduct from the settlement statement?
Taxes and child support/alimony
- Are alimony payments considered taxable income?
- What are the tax implications of child support payments?
Taxes and home ownership
- Can I deduct the cost of improvements or repairs I've made to my home?
- How do I figure the tax on the sale of my home?
- I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?
- I rent my home out for two weeks each year. Do I have to show this rental income on my federal income tax return?
- If I prepay next year's taxes this year, can I deduct them this year?
- My town has assessed against me a real estate betterment for new sewer lines installed in my street. May I deduct this amount on my tax return?
- We just bought our first home. What can we deduct from the settlement statement?
Taxes and insurance proceeds
Business Owner
Articles
Benefits and Retirement Plans
- Benefit plans for small businesses
- Disability income insurance for the self-employed
- Group health insurance: a valued employee benefit
- Group term life insurance
- Health insurance for the self-employed
- Key employee life and disability insurance
- Life insurance for the self-employed
- Offering group disability insurance
- Retirement plans for small businesses
- Split dollar insurance plans
- Understanding individual 401(k) plans
- What employers need to know about workers' compensation insurance
Insuring a business
- Business automobile insurance basics
- Business interruption insurance
- Business liability insurance basics
- Business overhead expense insurance
- Commercial general liability
- Do you need crime insurance?
- Income tax tips: business insurance
- Insurance tips for business travelers
- Insuring your home business
- Professional liability coverage
- Properly insuring your business
- Should you self-insure your business?
- Understanding your business owners policy
- Why insure your business?
Starting a business
- Advantages and disadvantages of self-employment
- Choosing an entity for your business
- Funding a business
- Hiring your first employee
- Qualifying for the home office deduction
- Record keeping for your own business
- Starting or buying a business
- Tax planning for the self-employed
Transferring or selling a business
Decision Tools
Benefits and retirement plans
- 401(k) plans
- Building a retirement plan for your business
- Comparison of types of educational assistance
- Individual 401(k) Illustration
Business planning basics
Choosing an entity
- Choosing a business entity
- Comparison of LLCs, LLPs, and professional corporations
- How C Corporations, Limited Liability Companies, and Limited Liability Partnerships Protect Personal Assets
Insurance planning
Tax planning
Transferring or selling a business
FAQs
Advertising a business
- How can I get free publicity for my business?
- How do I know where to advertise my business?
- What is the best form of advertising?
Employee benefits and other issues
- How can I boost the morale of my employees without incurring huge expenses?
- How can I find good employees for my business?
- What are health reimbursement arrangements?
- What are incentive stock options (ISOs)?
- What benefits should I offer to my employees?
Home-based businesses
- Can I deduct home office expenses?
- If I work at home occasionally, am I entitled to a home office deduction?
Incorporating a business
- Can I change my business from a C corporation to an S corporation?
- Can I change my business from an S corporation to a C corporation?
- Should I incorporate my business?
Insurance coverage
- A cell phone and laptop computer owned by my company were inside my briefcase when it was stolen. Will my company's insurance cover the loss?
- Can I get disability insurance if I'm self-employed?
- I drive my own car on company business. Whose insurance will pay for damages if I get into an accident?
- I own a business. Are there any creative ways I can use life insurance in my business?
- I use my laptop computer for my home business. Is it covered under my homeowners policy?
- I'm an independent contractor. Where can I get health and disability insurance?
- I'm thinking about opening a day-care business in my home. Does this raise any insurance issues?
- What is errors and omissions insurance?
- What is stop-loss insurance?
- What kind of insurance coverage do I need for my small business?
Noncompetition agreements
- I am buying a business. Can I make the seller sign a noncompetition agreement?
- My employer wants me to sign a noncompetition agreement. What is it? Is it legally binding?
- Why does the buyer of my business want me to sign a noncompetition agreement?
Partnerships
Raising capital
Starting a business
- Don't most small businesses fail?
- How do I find good advisors such as lawyers and accountants to help with my business?
- Is buying a franchise a good way to get into business?
- Should I buy an existing business or start from scratch?
- Should I buy or lease assets for my business?
- What are the stages of business development?
- What should I look for in a business location?
Transferring or selling a business
- Can I transfer my business through my will?
- How can I keep my business in the family?
- What are some financing options for selling my business?
- What is a buy-sell agreement?
- What is a family limited partnership, and will it help reduce estate taxes?
Valuing a business
Education Planning
Articles
529 plans
- 529 plans and financial aid eligibility
- 529 plans vs. other college savings options
- 529 plans: The ins and outs of contributions and withdrawals
- Choosing a state savings plan
- Estate planning and 529 plans
- Income tax planning and 529 plans
- Making changes to your 529 account
- Opening a 529 account
- The ABCs of 529 plans
Education planning basics
- ABCs of financial aid
- Can I afford to send my child to college?
- Education tax credits
- Finding money to pay college bills out of pocket
- Going back to school as an adult
- Health insurance for college students
- Helping your child make the transition from high school to college
- How student loans impact your credit
- Research tips when choosing a college
- Saving for retirement and a child's education at the same time
- Sticker shock--creative ways to lower the cost of college
- Student loan basics
- The best ways to save for college
- The college application process
Decision Tools
Determining how much to save for college
Evaluating college savings options
- Advantages and disadvantages of 529 plans
- Advantages and disadvantages of Coverdell education savings accounts
- Advantages and disadvantages of custodial accounts for college savings
- Advantages and disadvantages of U.S. savings bonds for college savings
- College funding options analyzer
- College savings vehicles compared
FAQs
529 plan basics
- Do 529 plans include both state savings plans and prepaid tuition plans?
- How long have 529 plans been around?
- How many states currently have 529 plans?
- What can you tell me about employer-sponsored 529 plans?
- What is the Independent 529 Plan?
- What's the difference between state savings plans and prepaid tuition plans?
- Who can legally offer 529 plans?
- Why are these plans referred to as "529" plans?
529 plans: Tax issues
- Can I deduct my contributions to my 529 account?
- Can I use 529 funds to pay my child's college expenses in the same year I take either the Hope credit or the Lifetime Learning credit?
- How does the annual gift tax exclusion apply to contributions to a 529 plan?
- I intend to make tuition payments directly to my grandchild's college, and I know this will reduce my estate. But would it be better to contribute to a 529 plan instead?
- I know that qualified withdrawals from state savings plans are now exempt from federal income tax. But what about state taxes?
- I opened a 529 plan and my child is the beneficiary. If my mother makes a contribution to the plan, is that considered a gift to me or to my child?
- I opened a state savings plan sponsored by a different state than my own. Will I get that state's tax benefits?
- I'd like to make a lump-sum contribution to my grandchild's 529 account. Will I owe gift tax?
- If I cash in Series EE U.S. savings bonds I purchased 10 years ago and contribute the proceeds to a 529 plan, can I still avoid paying tax on the proceeds?
- The Economic Growth and Tax Relief Reconciliation Act of 2001 contains sunset provisions. Should I be worried about this?
- Will I be penalized if the money in my 529 plan isn't used for college expenses?
- Will I pay income tax when the money in my 529 plan is withdrawn to pay for college expenses?
- Will the value of my 529 account be included in my estate or my beneficiary's estate?
Financial aid
- Are any financial aid programs tailored especially to parents of post-secondary students?
- Are there any assets that are not counted for financial aid purposes?
- Can an UGMA/UTMA account reduce my child's financial aid for college?
- Can anyone get a Pell Grant?
- Can we negotiate our child's financial aid award?
- Do colleges offer financial aid?
- How can my child find scholarships for college?
- How do I apply for financial aid?
- How do I know if I'm eligible for federal financial aid?
- How does the federal financial aid process work?
- Is there anything I can do now so that my child can obtain more financial aid later?
- What are the major federal financial aid loan programs?
- What happens if our child's college does not give us all the financial aid we need?
- What is a Stafford Loan?
Using or withdrawing 529 funds
- Can 529 funds be used for general living expenses while at college?
- Can the funds in a 529 plan be used for college expenses if my child is only attending part-time?
- How do I prove that a distribution request is for my child's college expenses and not for some other purpose?
- Must the funds in a 529 plan be used for tuition only, or can they be used for room and board expenses?
- My child got a full scholarship to college--now what?
- My child is the beneficiary of a 529 plan. Can he use the 529 funds at a foreign school?
- My child is the beneficiary of a 529 plan. Can he use the 529 funds for graduate school?
- My child is the beneficiary of a 529 plan. Can he use the 529 funds for vocational school?
- My child is the beneficiary of a 529 plan. Can we use the 529 funds for her private elementary or secondary school?
- My child will be going to college next year and using 529 funds to pay expenses--what do I need to do?
- What happens if I need to use the funds in a 529 plan before my child goes to college?
- What happens if I open a 529 account for my child, and she later becomes disabled and doesn't go to college?
- What happens if my child finishes college and there is money left over in the 529 account?
- What happens to my 529 plan if my child wants to postpone going to college for a year or two after high school?
- What happens to the funds in my 529 account if my child doesn't go to college?
Government Benefits
Articles
Medicare and Medicaid
- Coordinating long-term care insurance with government benefits
- Health insurance in retirement
- Medicaid and nursing home care
- Medicaid and the principal residence
- Medicaid planning basics
- Medicare
Other government benefits
- Government-sponsored disability insurance programs
- Receiving unemployment benefits
- What employers need to know about workers' compensation insurance
Social Security
Decision Tools
Medicare and Medicaid
- Medicaid eligibility for nursing home care
- Medicare figures at-a-glance
- Medicare, Medigap, and Medicaid
Social Security
FAQs
Medicare and Medicaid
- How do I enroll in Medicare?
- How does Medicare Advantage work?
- I'm putting money into a 529 plan for my grandchild. But are the 529 assets subject to Medicaid spend-down requirements?
- I'm thinking about placing my mother in a nursing home. Will Medicaid pay for her care?
- If I'm covered by Medicare, should I have additional health insurance?
Military benefits
Social Security
- Are my Social Security benefits subject to income tax?
- Does my 16-year-old have to pay Social Security tax on her earnings?
- How can I get an estimate of my Social Security benefits?
- How do I get disability benefits from Social Security?
- I'm getting remarried. How will this affect my Social Security benefits?
- My husband and I are divorcing after 30 years of marriage. Will I still be able to receive Social Security retirement benefits based on his earnings record after our divorce?
- Should I retire now at age 62 and collect Social Security benefits, or should I wait until age 65?
- What happens if I start collecting Social Security after age 65?
- What is SSI?
- When do I have to apply for a Social Security number for my newborn?
- When I retire, how much will I receive from Social Security?
- Will my children receive money from Social Security when I die?
Investment Planning
Articles
Choosing investment vehicles
- Annuity basics
- Creating an investment portfolio
- Investing in bonds
- Investing in stocks
- Mutual fund basics
- Other investments
- The best ways to save for college
- Understanding mutual fund share classes
Investment basics
- Handling market volatility
- Investment planning--the basics
- Six keys to successful investing
- Taxation of investments
- Understanding investment terms and concepts
- Understanding risk
Investment goals
Personal Finance
Articles
Decision Tools
Saving, spending, and borrowing
FAQs
Credit basics
- How can I correct errors on my credit report?
- How can I get credit if I have no credit history?
- How can I reduce my spending?
- How can I repair my poor credit?
- How do I get a copy of my credit report?
- How long should I keep copies of my tax returns?
- How much money should I keep in a savings account for emergencies?
- Should I invest my extra cash or use it to pay off debt?
- Will debt consolidation hurt or help my credit rating?
Retirement Planning
Articles
Health care issues
- Buying supplemental health insurance--Medigap
- Coordinating long-term care insurance with government benefits
- Health insurance in retirement
- Medicare
- Should you buy long-term care insurance?
- Understanding long-term care insurance
Housing issues
Saving for retirement
- Annuities and retirement planning
- Borrowing or withdrawing money from your 401(k) plan
- Choosing a beneficiary for your IRA or 401(k)
- Closing a retirement income gap
- Deciding what to do with your 401(k) plan when you change jobs
- Estimating your retirement income needs
- Evaluating an early retirement offer
- Retirement planning--the basics
- Saving for retirement and a child's education at the same time
- Taking advantage of employer-sponsored retirement plans
- Understanding defined benefit plans
- Understanding IRAs
- What to do after you've been automatically enrolled in your company's retirement plan
Social Security
Decision Tools
401(k) plans
Health care issues
- Medicaid eligibility for nursing home care
- Medicare figures at-a-glance
- Medicare, Medigap, and Medicaid
IRAs
- Comparison of traditional IRAs and Roth IRAs
- IRA eligibility flowchart: 2004
- IRA eligibility flowchart: 2005
- Roth IRA future value calculator
- Roth IRA: how much can you contribute in 2004?
- Roth IRA: how much can you contribute in 2005?
- Traditional IRA future value calculator
- Traditional IRA required minimum distribution illustrator
- Traditional IRA: how much can you contribute and deduct in 2004?
- Traditional IRA: how much can you contribute and deduct in 2005?
Retirement planning basics
- Building an investment portfolio
- Consumer price index inflation calculator
- Growth of annual deposits calculator
- How taxation can affect your retirement funds
- Investing for retirement
- Net worth calculator
- Personal cash flow worksheet
- Saving for your retirement
- What is your risk tolerance?
Social Security
FAQs
Evaluating an early retirement offer
Health care issues
- Can I deduct premiums paid for long-term care (LTC) insurance?
- How can I pay for nursing home care?
- How can I tell if a nursing home provides high-quality care?
- How do I enroll in Medicare?
- How does Medicare+Choice work?
- Should I buy long-term care insurance?
- What is long-term care insurance?
- What is Medigap?
IRAs
- Can I avoid the 10 percent penalty tax for early withdrawals from a traditional IRA?
- Can I contribute to a Roth IRA?
- Can I roll a retirement plan distribution into an IRA?
- Can I set up a traditional IRA?
- Can I shift my traditional funds to a Roth IRA?
- Can I still have a traditional IRA if I contribute to my 401(k) plan at work?
- Can I take money from my IRA without any penalty?
- I need money--can I take funds from my IRA?
- It's January, and I forgot to contribute to my IRA. Is it too late?
- Should I invest in a Roth IRA or a traditional IRA?
- Should I withdraw money from my IRA to pay for my child's college tuition?
- What are my options if I inherit an IRA or employer-sponsored plan?
- What are required minimum distributions and how are they calculated?
- What are the rules for IRA contributions?
- What's a premature IRA distribution, and what happens if I make one?
Social Security
- Are my Social Security benefits subject to income tax?
- How can I get an estimate of my Social Security benefits?
- I'm getting remarried. How will this affect my Social Security benefits?
- Should I retire now at age 62 and collect Social Security benefits, or should I wait until age 65?
- What happens if I start collecting Social Security after age 65?
- When I retire, how much will I receive from Social Security?
- Will my children receive money from Social Security when I die?
Tax Planning
Articles
General tax planning
- Am I having enough withheld?
- Choosing an income tax filing status
- Help! I can't pay my tax bill
- Income tax planning and 529 plans
- Surviving an audit
- Tax benefits of home ownership
- Tax planning for income
- Tax planning for the self-employed
- Taxation of investments
- Year-end tax planning
Tax credits and deductions
- Education tax credits
- Personal deduction planning
- Qualifying for the home office deduction
- Understanding personal tax credits
Taxes and insurance
Decision Tools
FAQs
General tax planning
- Am I having enough tax withheld from my paycheck?
- Are my Social Security benefits subject to income tax?
- Are scholarships and grants subject to federal income tax?
- Do I have to file a federal income tax return?
- Do I have to pay U.S. taxes when I work abroad?
- How did the Jobs and Growth Tax Relief Reconciliation Act of 2003 change capital gains tax rates?
- I don't have the cash to pay my taxes. What can I do?
- I have investment property. What does basis mean, and how do I determine the basis of my property?
- I received a state tax refund last year. Must I include that amount as income on my federal return this year?
- My spouse passed away this year. When I file my taxes, what filing status should I claim?
- What is my tax bracket?
- What is the alternative minimum tax?
- What is the basis of property received as a gift?
- What is the kiddie tax?
- What penalties and interest will I be charged for paying and filing my federal income taxes late?
- What's the difference between an "injured spouse" and an "innocent spouse"?
- Will I have to pay tax on my investment income?
Tax credits
- Can I take the credit for the elderly or disabled?
- Can I take the tax credit for child care?
- Now that my child is in college, am I entitled to any education tax credits?
- What are the Hope credit and the Lifetime Learning credit?
- What is the child tax credit?
- What is the difference between the child tax credit and the child and dependent care tax credit?
- What is the earned income credit and who qualifies for it?
Tax deductions
- Can I deduct home office expenses?
- Can I deduct premiums paid for long-term care (LTC) insurance?
- Can I deduct the cost of improvements or repairs I've made to my home?
- How do I deduct and substantiate my gambling losses?
- I paid my mother's real estate taxes last year. Can I deduct this on my tax return?
- I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?
- If I prepay next year's taxes this year, can I deduct them this year?
- If I work at home occasionally, am I entitled to a home office deduction?
- Is student loan interest deductible?
- My spouse and I are filing separate returns. Can we both itemize our deductions? If so, how do we split the deductions?
- My town has assessed against me a real estate betterment for new sewer lines installed in my street. May I deduct this amount on my tax return?
- We just bought our first home. What can we deduct from the settlement statement?
Taxes and child support/alimony
- Are alimony payments considered taxable income?
- What are the tax implications of child support payments?
Taxes and home ownership
- Can I deduct the cost of improvements or repairs I've made to my home?
- How do I figure the tax on the sale of my home?
- I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?
- I rent my home out for two weeks each year. Do I have to show this rental income on my federal income tax return?
- If I prepay next year's taxes this year, can I deduct them this year?
- My town has assessed against me a real estate betterment for new sewer lines installed in my street. May I deduct this amount on my tax return?
- We just bought our first home. What can we deduct from the settlement statement?