Does Filing Taxes Affect Your Credit Score?
Learn the indirect ways taxes can affect your credit. While filing isn’t reported, how you manage a tax bill or debt can impact your financial health.
Investment and Financial Markets
Public Law 110-28: The Housing and Economic Recovery Act
Learn how the Housing and Economic Recovery Act of 2008 reshaped the U.S. mortgage system with new oversight, standards, and financial relief measures.
Can a 16-Year-Old Have a Roth IRA?
Help a teen with a job get a head start on retirement. This guide explains how to establish and manage a Roth IRA for a minor with earned income.
What Is the Difference Between Income and Expenses?
Understand the fundamental calculation at the heart of financial literacy that measures the relationship between money earned and money spent.
The FATCA Withholding Rate: Who Is Subject to the 30% Tax?
Explore the mechanics of the FATCA 30% withholding tax, detailing how a foreign entity’s status and documentation impact their U.S. tax obligations.
Rev Proc 2022-1: How to Request an IRS Letter Ruling
Explore the established IRS framework for securing a binding determination on a tax issue before you act, providing crucial clarity and risk management.
How to Close a Trust With the IRS: A Final Return
Learn the administrative and tax procedures required to terminate a trust, satisfy IRS reporting obligations, and complete a trustee’s final duties.
How to Get a Sales Tax Number in Florida
Navigate the process of obtaining a Florida sales tax number. Our guide clarifies state requirements and application steps for your business.
How to Set Up Quarterly Tax Payments
Navigate the requirements for quarterly estimated tax payments to properly manage your tax liability on income not subject to withholding.
Publication 4164: Communications Excise Tax Explained
A guide for service providers on federal communications excise tax compliance, covering the process from identifying taxable services to remitting payment.
Self-Employment vs. Independent Contractor: Tax Differences
Understand the key distinction between your work classification and your tax status to properly manage your tax obligations as a non-employee.
How Is an IRA Distribution Taxed? Rules and Exceptions
Withdrawing from an IRA has key tax implications. Learn how the timing of a withdrawal, contribution sources, and other circumstances affect your tax liability.
Receivables Discounting: What It Is and How It Works
Explore receivables discounting, a financial strategy where businesses access immediate cash by leveraging their unpaid invoices as a convertible asset.
Is a Line of Credit a Current Liability?
The accounting for a line of credit hinges on key details. Learn how the drawn balance and repayment terms define its classification on the balance sheet.
Who Pays the Expatriation Tax and How Is It Calculated?
Understand the specific financial thresholds and asset valuation rules that apply when relinquishing U.S. status to properly calculate any final tax liability.
Can an S Corp Owner Claim the Employee Retention Credit?
For S corporation owners, ERC eligibility for their own wages is not automatic. Learn how IRS rules on majority ownership and family attribution affect your claim.
How Condo Capital Improvements Affect Owners
Understand the financial responsibilities of condo ownership when major building upgrades are needed and how these projects affect the value of your property.
Who Claims the Child Tax Credit After a Divorce?
For separated parents, IRS guidelines for claiming a child may differ from a custody agreement and impact eligibility for other important tax benefits.
Worst State Taxes: Ranking by Total Burden
Discover how a state’s unique tax structure—not just its income tax rate—shapes the total financial burden for residents of different income levels and retirees.
Does the IRS Hire Collection Agencies?
Understand the official process when the IRS uses a private agency for tax debt, including how to verify their identity and the rules for making payments.