Knowledge Center

Back-to-School in Virginia: Tax Deductions and Credits for Education

August is back-to-school month for many students in Virginia. The youngest children will head to their first day of preschool and recent high school graduates will head off to college. Fortunately, there are tax deductions and credits that can be taken for the expenses of both kids and new adults.

CST Group Selects Stroke Comeback Center as July Jeans for Charity Recipient

During the month of July, CST Group supported the Stroke Comeback Center. Its mission is to provide ongoing and personally meaningful programs within a supportive and peer-driven environment that is affordable for all stroke and brain trauma survivors, enabling them to achieve their maximum potential.

Treasures in Your Attic: The Tax Implications of Selling Your Collectibles

If you’re like me, then you grew up collecting and trading baseball cards: Trying to assemble your favorite players, placing them in plastic sleeves and, ultimately, forgetting about them. Then, twenty years later while cleaning out your attic or garage, you find that dusty box full of your forgotten collection. As you sort through the cards, the thought crosses your mind: How much are these worth today? Maybe in that box is an extra-rare card representing a big payday. You may indeed sell your cards for a nice profit, but don’t forget: this profit is taxable under the Collectible Gains Tax.

Know Your Penalty Before the IRS Calls

The Internal Revenue Service is going to outsource some of its delinquent debt to four private debt collection companies for 2016 individual returns. Unlike IRS agents, these companies will have free rein to chase down overdue payments, including your tax penalty. We thought it would be helpful for you to understand how the IRS calculates some of its most common penalties, so you are forewarned before receiving a call from these private agents.

Getting the Most From Your Out-of-Pocket Expenses

When you go on a business trip or take a client out to lunch, you can generally count on your employer to pick up the tab. Depending on your profession and employer, however, there may be times when you’re forced to pay a business expense out of pocket. Even if the company isn’t paying you back, you shouldn’t throw away the receipts – you may be able to deduct those expenses on your individual tax return.

CST Group Hosts Blood Drive for Toddler with Cancer

The son of a good friend of CST Group employee, Mark Ventura, was diagnosed with Neuroblastoma last September. At just under 2 years old, he receives regular blood transfusions to help combat the effects of chemotherapy. In the spirit of community giving, the CST Social Committee asked the Red Cross to have a blood drive at the company’s building to help this child, and others like him.