Cash in Lieu of Shares: What It Means and How It Works
Learn how cash in lieu of shares works, including its calculation, tax implications, and how it’s recorded on brokerage statements.
Investment and Financial Markets
De Minimis Tax Reporting: What Income Needs to Be Reported?
Understand de minimis tax reporting rules, including thresholds, eligible income types, and best practices for accurate record-keeping and tax compliance.
Instructions for IRS Form 8949: How to Report Capital Gains and Losses
Learn how to accurately complete IRS Form 8949 to report capital gains and losses, including key details, adjustment codes, and integration with Schedule D.
CP14 Notice But Already Paid: What to Do Next
Received a CP14 notice after making a payment? Learn why this happens, how to verify your payment, and the steps to resolve any discrepancies.
What to Do With Leftover HSA Money?
Learn how to manage leftover HSA funds efficiently, from eligible expenses to investment options and retirement strategies.
What Is Minnesota Schedule M1SA and How Does It Work?
Learn how Minnesota Schedule M1SA adjusts itemized deductions for state taxes, how it interacts with federal deductions, and what to consider when filing.
Capital Gains on Vacation Home Sales: What You Need to Know
Understand how capital gains taxes apply to vacation home sales, including key factors that influence tax liability and reporting obligations.
Ordinary Loss vs. Capital Loss: Key Differences and Tax Implications
Understand the key differences between ordinary and capital losses, how they impact your taxes, and the rules for reporting and offsetting them effectively.
How Many Months of Health Insurance Are Needed to Avoid a Penalty?
Learn how long you need health insurance to meet coverage requirements, avoid penalties, and understand exemptions for short coverage gaps.
First Year Business Tax Breaks: What New Business Owners Can Deduct
Discover key tax deductions available to first-year business owners, helping you manage costs and maximize savings as you establish your company.
Options for Unused 529 Funds: What to Do With Leftover Savings
Explore practical ways to repurpose unused 529 funds, from rollovers to beneficiary changes, while minimizing taxes and maximizing financial benefits.
How to Pay Into Social Security: A Step-by-Step Overview
Learn how Social Security contributions work, who needs to pay, and the steps for accurate reporting to ensure compliance with tax requirements.
Does Your Tax ID Number Change After Business Changes?
Learn when a business tax ID number changes due to structural updates like entity shifts, mergers, ownership changes, or reinstatements.
How Do I Find Out the Last Year I Filed Taxes?
Learn how to determine the last year you filed taxes using personal records, official transcripts, and financial documents to stay informed about your tax history.
Is Capital Gains Tax on a House Sale Required in Colorado?
Understand how capital gains tax applies to home sales in Colorado, including key factors that influence tax liability and reporting requirements.
Why Do I Have to Pay Additional Medicare Tax?
Understand why you may owe Additional Medicare Tax based on income level, filing status, and employment type, and how it impacts your tax obligations.
Can You Write Off Jewelry as a Business Expense?
Learn when jewelry qualifies as a business expense, how partial business use applies, and the importance of proper documentation for tax deductions.
How to Handle Commission Income Reported on a 1099 Form
Learn how to manage commission income from a 1099 form, navigate tax obligations, and track expenses to stay compliant and optimize your financial strategy.
Inherited 457(b) Rules: Taxes, Distributions, and Key Guidelines
Understand the tax rules, distribution options, and key considerations for managing an inherited 457(b) retirement account effectively.
Do You Have to Pay Taxes After Winning a Car?
Winning a car comes with tax obligations that vary by location and income. Learn how to estimate costs and explore options if taxes exceed your budget.