We here at Caufield & Flood feel that an informed client is our best customer. We know that it may be difficult to keep track of the growing volume of complex, new developments that can be overwhelming even to a knowledgeable client.  For your convenience, we have included some recent developments for you to view.       Monthly Newsletter

American Opportunity Credit For tax years beginning in 2009 and 2010, the Stimulus Act includes taxpayer-friendly modifications to the Hope Scholarship higher education tax credit (Hope Credit).   Substantiating Charitable Contributions As we approach year-end, many of us may need to catch up on our charitable contributions for a number of reasons in addition to a tax break. So, let's briefly review the IRS rules on deducting charitable contributions.   Working May Decrease Your Social Security Benefits Many taxpayers currently underemployed due to recent economic conditions may consider applying for social security retirement benefits earlier than they previously planned to supplement their income. But, continuing to work while receiving those benefits may cause their benefits to be reduced below the anticipated amount.