First Federal Bank Blog

The things you buy, including equipment and property, to help improve your small business are not only smart investments, they are valid deductions you can report on your tax return. Since you are dealing with taxes, though, how to calculate the depreciation of your business assets can be complicated.

For low- or middle-income household, the Earned Income Tax Credit may be able to help reduce your tax burden or bolster your refund. However, tax firm H&R Block states as many as 22 percent of qualifying taxpayers miss out on claiming the EITC. Don’t be one of them — here’s a look at what you need to know to get the most out of your EITC.

No matter your income or financial situation, medical bills can take an enormous bite out of your budget. If you face big recurring costs or recently went through a high-priced operation or hospital stay, you might benefit from claiming a medical expense deduction on your taxes.

Between paying for tuition and covering living expenses, you may find it challenging to save up money while in college. However, by following these simple tips, you may be able to graduate from college with some cash already in your savings account:

We’ve all heard about the Dow and the Nasdaq. At times, it’s almost as if the terms are used interchangeably when discussing the economy or stocks. However, these are simply two tools that investors can use to check on the health of the market. Here’s a look at what you need to know about stock market indices — and how they differ:

Even though financial transactions today are increasingly paperless, there are still advantages to using a check book. They can help you avoid processing fees, leave behind a useful paper trail for your spending, and give you a means of transferring funds should the internet be unavailable. But are check books safe? How do you secure your check...

Although not a traditional four-letter word that would get you into trouble if you said it as a kid in school, there is no doubt debt is one of the worst words in the English language. Financial debt affects your sense of self, your present lifestyle, and your hope for the future. Getting out of debt is a daunting, time-consuming task, but the...

If you’re new to the world of business ownership, managing your taxes can be one of the most daunting aspects of self-employment. Dealing with estimated taxes, figuring out deductions, and navigating tax forms can dampen the spirits of even the most intrepid entrepreneur. To help you prepare, here are a few things to know about the unique tax...

Tax time is stressful for every small business owner, especially if you make certain common accounting mistakes. These simple errors can lead to missed deductions, additional fines, and plenty of unnecessary stress, all of which cost you the time and energy you could be using to grow your company. From simple disorganization to overburdening...

The beginning of each new year brings the looming stress of filing your taxes. Sorting through all the paperwork, filling out the correct forms, and making sure everything is prepared and filed on time can be a challenge. Depending on your circumstances, you may find yourself missing important tax deadlines. This can be a frightening situation,...