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Larry D. Henagan and Associates, PLLC Helping your business find direction... info@henagan.com   Planning Tools   Business Owner   Articles     Insuring a business       Business interruption insurance       Do you need crime insurance?   Decision Tools     Tax planning       Accelerating deductions/postponing income   FAQs     Advertising a business       How can I get free publicity for my business?     Noncompetition agreements       I am buying a business. Can I make the seller sign a noncompetition agreement?   Tax Planning   Articles     General tax planning       Choosing an income tax filing status       Tax benefits of home ownership   Decision Tools     General tax planning       Federal individual income tax fundamentals     Tax credits and deductions       Is my home mortgage interest fully deductible?   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 pay U.S. taxes when I work abroad?       I don't have the cash to pay my taxes. What can I do?       I received a state tax refund last year. Must I include that amount as income on my federal return this year?       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?     Tax credits       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 the cost of improvements or repairs I've made to my home?       How do I deduct and substantiate my gambling losses?       I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?       If I work at home occasionally, am I entitled to a home office deduction?       We just bought our first home. What can we deduct from the settlement statement?     Taxes and child support/alimony       What are the tax implications of child support payments?     Taxes and home ownership       I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?     Taxes and insurance proceeds       Are life insurance proceeds income taxable?       I receive disability insurance payments. Are they taxable?