Presidents Day honors our past Presidents. Observed on the third Monday of February it replaced the national holiday of Washington’s Birthday as well as Lincoln’s Birthday observed as a holiday in some states. This year we should also honor and support President Obama with his hope for our future!

It´s tax time. Are you ready to file your tax returns? Do you have all your documentation ready? Have you decided on a do-it-yourself approach or are you going to a professional preparer? Are you sure you know what you´re doing? Are you Efiling for faster results? It´s not rocket science. Or is it?

When you prepare your personal federal tax return, or have it prepared, you choose to reduce your gross income by the amount of your allowable standard deduction or allowable itemized deductions. You cannot do both. So how do you know which one is better or which one you qualify to take?

Some things never change. As the song says, “what goes up must come down, spinning wheels got to go round,” and tax season comes back every January. This year is no different. It’s that time again. What should you be focusing on to benefit your overall tax picture?

What exactly is Adjusted Gross Income (AGI)? AGI is a tax term for a particular figure on a personal federal income tax return. When you are preparing or reviewing your federal personal return it is helpful to have an understanding of how this number is used in calculations.

Taxpayers who have earned income and meet specific requirements may be eligible to receive the Earned Income Tax Credit. EITC is a refundable credit which means if you meet all eligibility qualifications, even if you do not have a tax liability or federal withholding you are entitled to the refund.

I greet Christmas with mixed emotions. I love the holiday season and all of the traditional seasonal treasures; but I don’t like the way it has become so commercialized and I don’t like the fact that as soon as its over tax season begins. Johnny Jingles showed me it sometimes brings miracles too.

How ironic is it that at a time when there are unprecedented home foreclosures that there is also a new tax credit for first time home buyers? But is the credit a loan in disguise? Brings to mind that ageless question, if it looks like a duck, and walks like a duck, is it a duck?

Our old friend Johnny Jingles has gotten ambitious. Word about town is that he is thinking about becoming a small business owner. It seems that he´s determined that he can make lots of money and use it all but never owe any taxes because of all the tax write offs. Poor Johnny is a bit confused.

America is so much more than what we all talk about - more than finances and taxes and politics. America is a melting pot of nationalities and ethnic backgrounds. Our Holidays are a reflection of that fact. Thanksgiving, is a great day to celebrate America. Let us Give Thanks for this great country.