Why Does My IRS Refund Transcript Show a Negative Amount?
Understand why your IRS refund transcript may show a negative amount and learn when to seek clarification or address potential errors.
Investment and Financial Markets
How to Calculate Mortgage Interest Deduction Over $750,000
Learn how to navigate mortgage interest deductions for loans over $750,000 with practical steps and reporting tips.
Can You Cash Out an HSA? Tax Rules and Penalties Explained
Explore the rules and implications of cashing out an HSA, including tax impacts and potential penalties. Learn how to access your funds wisely.
Who Did I File My Taxes With Last Year? How to Find Out
Discover practical steps to identify your previous tax filing service, ensuring a smooth and informed tax season ahead.
If I Claim 2 on My W4, How Does It Affect My Taxes?
Explore how claiming 2 on your W4 impacts tax withholding, potential overpayment, and overall tax strategy.
Can You Write Off a Computer on Your Taxes for School?
Explore how to potentially claim a computer as a tax deduction for educational purposes, including key criteria and filing tips.
Do You Get Social Security and Medicare Tax Back?
Explore the nuances of reclaiming Social Security and Medicare taxes, including exceptions and refund processes for various situations.
What Is the Realtor Business Code for Tax Reporting?
Learn how to navigate tax reporting for real estate activities, including income reporting, deductible expenses, and code adjustments.
What Is the Other Additions/Subtractions Statement (225) and When Is It Needed?
Understand the purpose and timing of the Other Additions/Subtractions Statement (225) for accurate tax reporting and compliance.
How to Change an LLC From Partnership to Single Member Structure
Streamline your LLC transition from partnership to single member with insights on ownership transfer, state filings, IRS changes, and liability updates.
What Is a Salary Reduction Cafeteria Plan and How Does It Work?
Explore how salary reduction cafeteria plans offer flexible benefits, tax advantages, and compliance essentials for both employers and employees.
Can I Claim My Son as a Dependent if He Works?
Learn how to determine if you can claim your working son as a dependent by understanding age, residency, financial support, and income guidelines.
Sewer Line Depreciation Life: How It Works for Rental Properties
Understand how sewer line depreciation impacts rental property investments, including methods, calculations, and tax implications for optimal asset management.
What Are Unallowed Losses and How Do They Affect Rental Property?
Understand how unallowed losses impact rental properties, including key concepts and strategies for managing and releasing these losses effectively.
AMT Dep Allowed/Allowable: What Happens if Depreciation Is Too Large?
Explore the nuances of AMT depreciation, its adjustments, and the impact of excess depreciation on tax obligations.
How Do I Pay Social Security and Medicare Taxes as a Self-Employed Individual?
Learn how to manage Social Security and Medicare taxes effectively as a self-employed individual, including calculation, reporting, and payment methods.
What Is Schedule 1299-C and How Does It Impact Your Taxes?
Understand Schedule 1299-C’s role in tax credits and subtractions, and learn who needs to file and how to complete it accurately.
What Does the Investment at Risk Box on Schedule C Mean?
Understand the significance of the at-risk box on Schedule C, how to calculate it, and its impact on reporting business losses for IRS compliance.
Is a Home Equity Loan Tax Deductible? Here’s What to Know
Explore the nuances of home equity loan interest deductions, including eligibility, approved uses, and tax reporting essentials.
What Is the Yardi Penny Test and How Do You Report It?
Learn about the Yardi Penny Test, its purpose, and how to accurately report and reconcile this small transaction in your financial records.