Understand the differences between the de minimis safe harbor and the safe harbor for small taxpayers, including eligibility, expense limits, and documentation.
Understand the Fidelity Consolidated Form 1099, how its sections apply to your investments, and what it means for tax reporting and potential corrections.
Learn how to file a gift tax return with this step-by-step guide, including key thresholds, exclusions, required forms, and best practices for compliance.
Learn how to determine the deductible portion of your internet bill for tax purposes, maintain proper records, and accurately report the expense.
Explore whether a house is a true financial asset by examining equity, liquidity, and its role in personal net worth and financial planning.
Discover the key factors that may have led to an increase in your federal income tax, from income changes to tax law updates and adjustments in deductions.
Learn how cash in lieu of shares works, including its calculation, tax implications, and how it’s recorded on brokerage statements.
Understand de minimis tax reporting rules, including thresholds, eligible income types, and best practices for accurate record-keeping and tax compliance.
Understand RPD-41359, its role in the filing process, key eligibility factors, common mistakes, and how to correct errors to ensure compliance.
Understand the tax, financial, and legal factors involved in donating property to a family member to ensure a smooth and compliant transfer.
Understand how the New York income factor influences your state tax obligations, including residency status, income sourcing, and multi-state filings.
Learn how to accurately complete IRS Form 8949 to report capital gains and losses, including key details, adjustment codes, and integration with Schedule D.
Received a CP14 notice after making a payment? Learn why this happens, how to verify your payment, and the steps to resolve any discrepancies.
Learn why you may not qualify for head of household status on your tax return, including dependency rules, residency requirements, and financial support criteria.
Learn how to manage leftover HSA funds efficiently, from eligible expenses to investment options and retirement strategies.
Learn how to calculate the cost of goods sold (COGS) tax deduction, explore valuation methods, and understand key recordkeeping practices for accurate reporting.
Learn how Minnesota Schedule M1SA adjusts itemized deductions for state taxes, how it interacts with federal deductions, and what to consider when filing.
Understand the rules for using IRA funds toward a home purchase, including eligibility, tax implications, and withdrawal requirements.
Understand how capital gains taxes apply to vacation home sales, including key factors that influence tax liability and reporting obligations.
Learn the key factors lenders consider for a cash-out refinance on a second home, including equity, credit, and costs, to make informed financial decisions.