Can I Claim the Fuel Tax Credit on My Tax Return?
Learn who qualifies for the fuel tax credit, which fuel types are eligible, and how to properly claim it on your tax return to maximize potential savings.
Investment and Financial Markets
What Does 1099-R Box 7 Code 2 Mean for Your Taxes?
Understand how a 1099-R Box 7 Code 2 affects your tax filing, including penalty exceptions, reporting requirements, and steps for addressing discrepancies.
What Is Accrued Inventory and How Does It Work in Accounting?
Learn how accrued inventory is recorded in accounting, its impact on financial statements, and how different costing methods influence valuation.
Can You Have a 401(k) if You Are Self-Employed?
Explore how self-employed individuals can set up and manage a 401(k), including eligibility, contribution limits, and compliance considerations.
Are Parent PLUS Loans in the Student’s Name or the Parent’s?
Understand who is legally responsible for Parent PLUS Loans, how repayment works, and what role students may have in the process.
Taxes on a 403(b) Tax-Sheltered Annuity Explained
Understand how a 403(b) tax-sheltered annuity is taxed, from contributions to withdrawals, including penalties, required distributions, and rollover options.
What Is Form 8697 and When Is It Required?
Learn when to file Form 8697, how to calculate interest adjustments, and what to expect in terms of filing requirements, corrections, and potential penalties.
Can I Write Off Taxi Rides to Work on My Taxes?
Understand when taxi rides to work qualify as a tax deduction, how to document transportation costs, and avoid common misclassification mistakes.
What Is the 5889 Form and How Is It Used for Tax Filing?
Learn how Form 5889 helps organize income, expenses, and adjustments for accurate tax filing, ensuring compliance with IRS guidelines.
How to Get and Understand an Amended Tax Return Transcript
Learn how to request an amended tax return transcript and interpret key updates, including income adjustments, credit changes, and withholding modifications.
What Is Adjusted Gross Income (AGI) and How Is It Calculated?
Learn how Adjusted Gross Income (AGI) is calculated, its role in tax planning, and how it impacts deductions, credits, and overall financial decisions.
Do You Need a 1099-INT for Your American Express Savings Account?
Learn when American Express issues a 1099-INT, how to access it, and what to do with the information for accurate tax reporting and record-keeping.
1099 vs K-1: Key Differences and When Each Is Issued
Understand the key differences between 1099 and K-1 tax forms, including issuance, tax implications, and filing responsibilities for various income types.
Where to Enter Schedule K Items on Form 1120-IC-DISC
Learn how to accurately report Schedule K items on Form 1120-IC-DISC, ensuring compliance with filing requirements and proper coordination with shareholders.
What Is a 1099-G for Paid Family Leave and When Do You Need It?
Learn when a 1099-G is issued for paid family leave, how it differs from other tax forms, and what to do if you receive one.
Can You Have an HSA With Medicaid? Eligibility and Rules Explained
Understand how Medicaid affects HSA eligibility, contributions, and tax implications to make informed decisions about your healthcare savings.
What Is the 8960 Tax Form and Who Needs to File It?
Learn who needs to file Form 8960, how it applies to different types of investment income, and how it interacts with other tax forms to determine net investment tax.
Are Equipment Lease Payments Tax Deductible for Small Businesses?
Understand how different equipment lease structures impact tax deductions for small businesses and the key factors that determine eligibility.
Do You Need to File a 1099 Form in Oklahoma?
Understand Oklahoma’s 1099 filing requirements, including income types, state tax rules, deadlines, and best practices for compliance.
How to Claim the American Opportunity Credit From Form 8863, Line 8
Learn how to accurately claim the American Opportunity Credit using Form 8863, Line 8, including key eligibility factors, qualified expenses, and reporting guidelines.