Understand the tax implications of a failed 1031 exchange spanning two years, including federal and state tax considerations, depreciation recapture, and IRS documentation.
Learn how claiming a spouse exemption on your taxes can impact your filing status, tax liability, and required documentation.
Understand how Modified Adjusted Gross Income (MAGI) impacts tax calculations, healthcare subsidies, and retirement contributions with this clear breakdown.
Learn key deadlines for tax payments, options for setting up a payment plan, and what to do if you need more time to avoid potential penalties.
Understand how 401(k) contributions impact earned income classification, tax withholding, and reporting requirements for employees and the self-employed.
Learn how to navigate Toledo city tax refunds and filing requirements, including tax liability, payments, credits, and nonresident obligations.
Understand when Airbnb collects sales tax and when hosts are responsible, plus key differences between sales and occupancy taxes for proper compliance.
Learn how to understand, address, and resolve a state income tax balance due notice while minimizing potential penalties and ensuring accurate record-keeping.
Learn how to accurately report nonemployee compensation on your taxes, including required forms, filing steps, and best practices for compliance.
Learn why your IT-40RNR return was rejected, common errors that cause issues, and how to correct and resubmit it for successful processing.
Understand Lancaster, Ohio city tax requirements, including residency rules, taxable income, filing obligations, and how local taxes may apply to you.
Understand how guaranteed payments work in LLCs and partnerships, their tax implications, and key considerations for structuring and documenting them properly.
Learn what to expect when receiving a California tax refund check, including envelope details, delivery timelines, verification steps, and potential delays.
Learn how to accurately report investment income using the T5008 form, understand key details on the slip, and ensure proper tax documentation.
Understand how the adoption tax credit works, its refundability rules, and how to maximize its benefits based on your financial situation.
Understand how pandemic unemployment benefits impact your taxes, including federal and state obligations, reporting requirements, and potential penalties.
Learn how tax credits and incentives may apply to Mitsubishi ductless AC and heat units, including eligibility requirements and potential financial benefits.
Understand the tax implications of living in Pennsylvania and working in Ohio, including residency rules, reciprocity agreements, and filing requirements.
Learn how the small business exception allows eligible businesses to expense inventory, key accounting considerations, and compliance requirements.
Understand how contributions and distributions impact the taxable portion of your retirement savings and learn key rules for accurate tax reporting.