Why Is the 1099-NEC Box 6 State Number Important?
Understand the role of the 1099-NEC Box 6 state number, when it applies, and how it affects tax reporting for businesses and independent contractors.
Investment and Financial Markets
Where Do I File the 1127 Tax Form and What Is Required?
Learn where to file Form 1127, what documentation is required, key deadlines, and important considerations for accurate and timely submission.
What Happens to Your 401k After Separation From Service?
Understand your options for managing your 401(k) after leaving a job, including distributions, rollovers, tax implications, and required withdrawals.
Basic, Deluxe, and Premium: Which Tax Plan Is Right for You?
Compare tax plan options to find the right fit for your needs, balancing coverage, features, and cost to ensure an efficient and accurate filing experience.
Accumulated Adjustments Account vs Retained Earnings in S Corporations
Understand the distinctions between an S corporation’s Accumulated Adjustments Account and retained earnings, including tax implications and financial reporting.
What to Do If You Received a $2900 Stimulus Check Overpayment
Learn why you may have received a $2900 stimulus overpayment, how it relates to income limits and dependents, and what steps to take to address it properly.
Adjustments to Shareholders’ Equity: Key Transactions and Impacts
Explore how various transactions impact shareholders’ equity, from stock activity to retained earnings, and understand their role in financial reporting.
Why Did I Receive a 1009-K and What Should I Do With It?
Understand why you received a 1099-K, how to verify its accuracy, and what steps to take to ensure proper tax reporting and recordkeeping.
Can I Use More Than $3,000 Capital Loss Carryover on My Taxes?
Learn how capital loss carryovers work, including annual limits, offsetting gains, and how excess losses can be applied in future tax years.
Do Contract Bookkeepers Need to Receive a 1099 Form?
Learn when contract bookkeepers should receive a 1099, how worker classification affects tax reporting, and the implications of incorrect filing.
What Is the Fax Number 866-682-7451 Used For?
Learn how to properly submit documents to fax number 866-682-7451, verify the destination, and explore alternative submission methods.
1120 Schedule G Instructions: Reporting Ownership Shares for C-Corps
Learn how to accurately report ownership interests on Schedule G for Form 1120, including filing requirements, disclosure details, and IRS considerations.
Are Land Improvements Depreciated Over 15 Years?
Understand how land improvements are classified for depreciation, the applicable recovery periods, and key factors in allocating costs for tax purposes.
Are 529 Contributions Tax Deductible in PA?
Learn how Pennsylvania treats 529 plan contributions for tax purposes, who can claim deductions, and how to report them correctly on your state return.
529 Rollover Rules IRS: What You Need to Know for Tax Compliance
Understand IRS rules for 529 rollovers, including eligibility, tax implications, and reporting requirements to ensure compliance and avoid penalties.
Are Condos Considered Multi-Family Properties?
Explore whether condos are classified as multi-family properties by examining their legal status, financing considerations, tax implications, and ownership structure.
What Does a 971 Notice Issued With 0.00 Mean for Your Tax Refund?
Learn what a 971 notice with a 0.00 amount means for your tax account, how it may affect your refund, and what steps to take for clarification.
What to Do If You Have a Balance Due on Your Tax Return
Owing taxes can be manageable with the right approach. Learn about payment options, potential penalties, and how to avoid future tax balance issues.
What Are Balance Payments and How Do They Work?
Understand how balance payments work, why they occur, and the options available for settling them while ensuring compliance with payment terms.
What Items Are Not Included as a Payroll Deduction?
Understand which payments and benefits fall outside standard payroll deductions and why they are handled separately from taxable wages.