What Are Carbon Tax Credits and Who Can Claim Them?
Discover how federal tax incentives for eco-friendly activities can reduce your tax bill. This guide covers eligibility, documentation, and the filing process.
Investment and Financial Markets
A History of United States Tax Brackets
Explore the evolution of U.S. income tax brackets and how shifting economic philosophies and national needs have consistently reshaped American tax policy.
What Is Section 201 of the Trade Act?
Learn how Section 201 of the Trade Act provides temporary safeguard relief to U.S. industries facing serious injury from a surge in fairly traded imports.
ECI Withholding: What It Is and How It Works
Understand the tax withholding process for US business income earned by foreign persons, from the payer’s obligations to the recipient’s final tax filing.
Which States Require Sales Tax on Gym Memberships?
Understanding sales tax on gym memberships goes beyond state law. Learn how local rules and service definitions can impact the final cost of fitness.
What Is a Nontaxable Exchange and How Does It Work?
Understand how exchanging property for a similar asset can defer capital gains tax. Learn the financial principles behind this common investment strategy.
H.R. 5893: A Breakdown of Agency Appropriations
An analysis of H.R. 5893 details the annual appropriations shaping federal priorities in public safety, scientific advancement, and economic regulation.
How to Claim the 2023 Solar Tax Credit
Navigate the specifics of the 2023 solar tax credit. Learn the key financial considerations and procedural requirements to accurately apply it to your tax return.
How Are Your W2 Calculations Determined?
Explore the calculations that connect your total earnings to the taxable wages and taxes shown on your W-2, influenced by deductions and your W-4.
How Do You Use 529 Funds to Pay for College?
Navigate the rules for using your 529 plan with a practical guide to making tax-free withdrawals and coordinating payments with other financial benefits.
IRS Postmark Rule: What Qualifies as a Timely Filing?
Mailing your tax documents by the deadline? Understand the critical IRS rule that treats your postmark date as your filing date to avoid penalties.
Does Address on W2 Have to Match Tax Return?
An outdated W-2 address is common. Find out why the address on your tax return is the one that matters for IRS correspondence and state tax obligations.
What Is IRS Form 8878 and What Is It Used For?
Understand how IRS Form 8878 functions as your signature authorization, allowing a tax professional to e-file a tax extension on your behalf.
What Is the WAL Code in Box 14 of Your W-2?
See “WAL” in Box 14 on your W-2? This guide explains these WA Cares Fund contributions and clarifies their post-tax status for filing purposes.
What Is a Subordination Fee and Who Pays for It?
Understand the administrative cost for altering lien priority during a mortgage refinance and how this fee impacts a borrower’s final closing statement.
Basic Income Tax Treatment of Nonqualified Annuities
Nonqualified annuities offer tax-deferred growth, but the taxation of earnings is nuanced, changing based on how and when money is distributed from the contract.
IRS FSA Rollover: What Are the Current Rules?
Navigating the FSA “use-it-or-lose-it” rule can be complex. Learn about current IRS guidelines that may allow you to preserve your unused funds.
What Is Form 8404 and Who Is Required to File It?
Understand the interest charge on deferred tax for IC-DISC shareholders and the role of Form 8404 in fulfilling this annual compliance requirement.
Does Investment Income Affect Social Security Disability?
How investment income affects your disability benefits depends on whether they are based on your work history or financial need. Learn the different rules that apply.
Is Critical Illness Cover a Taxable Benefit?
Learn how tax applies to critical illness cover, including the rules for employer-paid premiums and the long-term impact a payout has on your estate.