What Is Schedule C Depreciation and How Does It Work?
Learn how Schedule C depreciation impacts your business taxes, including asset qualification, useful life, and reporting methods.
Investment and Financial Markets
What Does Foreign or U.S. Possession Mean for Tax Purposes?
Explore the tax implications of foreign or U.S. possessions, including residency tests, income sourcing, and key exclusions.
Can Hub Testing With the IRS Help Get Your Taxes Approved Early?
Explore how IRS hub testing can streamline your tax filing process, potentially leading to quicker approvals and fewer delays.
How to Calculate Depreciation on a Rental Property for Tax Purposes
Learn how to accurately calculate rental property depreciation for tax purposes, including cost basis and yearly adjustments.
Where to Mail Form 966 for Domestic and Foreign Filers
Find the correct mailing addresses for submitting Form 966, tailored for both domestic and foreign filers. Ensure accurate submission.
Does an Estate Pay Taxes on the Sale of a Home?
Explore how estate home sales are taxed, including capital gains, step-up basis, and deductible expenses. Understand filing requirements and tax liabilities.
What Is a Qualified Plan Loan Offset and How Does It Work?
Explore the mechanics of qualified plan loan offsets, including calculation, distribution, taxation, and reporting essentials.
Any Contributions You Personally Made to an HSA (Not Through Your Employer)
Explore how personal HSA contributions can impact your taxes, including deduction benefits and reporting requirements.
Can I Claim My Cousin as a Dependent on My Taxes?
Learn the criteria for claiming a cousin as a dependent on your taxes, including relationship, residency, and financial support requirements.
Short-Term Capital Gains Tax in California: What You Need to Know
Understand how short-term capital gains tax in California impacts your taxable income and learn about filing essentials and potential penalties.
Specified Private Activity Bond Interest Dividends and Tax Reporting
Explore the nuances of specified private activity bond interest dividends and their tax reporting implications across different jurisdictions.
What Is the Adjustment Amount (Ordinary Income) and How Is It Calculated?
Understand the adjustment amount in ordinary income, its calculation, and its impact on your tax reporting and estimated taxes.
Can I Contribute to an HSA if I Am on My Spouse’s Insurance?
Explore how being on your spouse’s insurance affects your HSA eligibility, contribution limits, and tax benefits.
Can You Offset Gambling Winnings With Losses on Your Taxes?
Learn how to navigate tax rules for offsetting gambling winnings with losses, including documentation and itemized deductions.
Where Is My MI Tax Refund? How to Check Your Refund Status
Learn how to track your Michigan tax refund status, understand potential delays, and find out who to contact for assistance.
Can You Write Off a Nanny as a Business Expense?
Explore the nuances of classifying nanny expenses as business costs, focusing on tax criteria and documentation essentials.
What Can Be Included as Utilities on Schedule C?
Learn how to accurately report utility expenses on Schedule C, including allocation for mixed-use and partial-year business adjustments.
Do You Want to Apply Your Refund to Next Year’s Tax Return?
Learn how applying your tax refund to next year’s return can impact your finances and what to consider before making this decision.
What Is an IRS Test Batch and Why Does It Delay Refunds?
Learn how IRS test batches impact refund timelines and discover steps to manage potential delays effectively.
What Is the IRS Fax Number for 1040X Amended Tax Returns?
Learn how to correctly fax your 1040X amended tax return to the IRS, including document preparation and tracking delivery.