Investment and Financial Markets

An LLC’s tax filing process is not one-size-fits-all. Learn how your business structure and elections determine the correct steps for federal and state reporting.

Explore the tax-efficient strategy of donating your RMD directly from an IRA, a method that can lower your adjusted gross income and satisfy withdrawal rules.

A guide to the minister’s housing allowance, clarifying the process for substantiating costs and its impact on both income and self-employment taxes.

Reference a complete history of annual IRA contribution limits and the income rules that governed eligibility to accurately verify your past contributions.

Federal taxes on state disability income are determined by who paid the premiums. Learn the key distinction to ensure you file your return accurately.

A person’s passing initiates several distinct tax processes. Understand the financial duties related to their final affairs, the estate, and asset transfers.

Understand the state-level tax implications for your 401k withdrawals in South Carolina. Learn how age-based provisions can reduce your overall state tax liability.

Gifting stock involves specific tax rules. Learn how transfers can be made without immediate tax and understand the future financial obligations for the recipient.

Explore the U.S. dual tax system. Understand how federal and state tax rules differ, how they interact, and how this relationship defines your tax liability.

Understand the tax implications of your ActBlue donation. Deductibility is determined by the recipient organization, not the payment platform itself.

Understand how local assessments and state relief interact to determine your Virginia car tax, and the steps needed for correct reporting and payment.

Reclassifying a second home as your primary residence involves specific financial and legal standards. Learn the framework for a compliant and beneficial transition.

Learn the IRS-mandated framework for taking money from your S corp. This guide covers the required payment methods to ensure proper tax handling and compliance.

Understand the tax treatment and financial considerations for your retirement account before taking a withdrawal that exceeds your required minimum distribution.

Combining an HRA and an HSA is possible but depends on specific IRS rules. Understand how an HRA’s structure affects your eligibility to contribute to an HSA.

Learn how an entity can avoid backup withholding on payments by understanding the qualifications and correctly communicating its status to payers.

This guide explains the foundational IRS rules for medical care, clarifying the principles that determine if your health spending offers a tax advantage.

Acting as a trustee, executor, or guardian comes with specific tax responsibilities. Understand the legal definition and core duties of a fiduciary under the IRC.