What Is a Frivolous Tax Return and How Can You Address It?
Learn how to identify and address frivolous tax returns, understand potential penalties, and explore options for correction and appeal.
Investment and Financial Markets
What Is IRS Pub 504 and How Does It Apply to Divorced Taxpayers?
Understand IRS Pub 504’s impact on taxes for divorced individuals, covering key aspects like filing status, alimony, and claiming dependents.
IRC 127: How Educational Assistance Programs Work
Explore how educational assistance programs function, covering key components, eligibility, reimbursement, tax rules, and recordkeeping essentials.
What Is the Annualized Income Installment Method for Taxes?
Learn how the annualized income installment method helps manage fluctuating income for accurate tax payments and compliance.
Can I File Someone Else’s Taxes With Their Permission?
Learn the essentials of filing taxes on behalf of someone else, including authorization, logistics, and safeguarding financial data.
How Are Owner Draws Taxed in an S Corp?
Understand the tax implications of owner draws in an S Corp, including classification, compensation guidelines, and compliance considerations.
Where to Find Education Credits on Form 1040
Learn how to locate and claim education credits on Form 1040, including necessary attachments and documentation.
Trust as IRA Beneficiary: Tax Consequences and Distribution Rules
Explore the tax implications and distribution rules when naming a trust as an IRA beneficiary, ensuring informed financial planning.
How Much Should I Get Back on My Tax Return?
Discover factors influencing your tax refund, including filing status, credits, deductions, and withholding, to better estimate your return.
Where to Mail Form 5329 and Waiver Requests Properly
Learn the correct process for mailing Form 5329 and waiver requests, ensuring compliance and proper delivery without errors.
Is a Safe Deposit Box Tax Deductible? What You Need to Know
Explore the tax implications of safe deposit boxes, focusing on deductibility criteria and the importance of proper documentation.
What Does a Manual Review Mean and Should You Be Concerned?
Understand the implications of a manual review, what it entails, and how it might affect your financial processes and outcomes.
K1 Box 14 Code C: Why It Shows Income When Your Business Declared a Loss
Understand why K1 Box 14 Code C reports income despite a business loss and its implications for taxes and social security.
Where to Mail Indiana Tax Return and What to Include
Learn how to correctly mail your Indiana tax return, including essential forms, payment enclosures, and tips for proof of submission.
Covered vs Noncovered Shares: Key Differences and Tax Implications
Explore the distinctions between covered and noncovered shares, focusing on their impact on cost basis calculation and tax reporting requirements.
How to Report Canadian Pension on a U.S. Tax Return
Learn how to accurately report Canadian pension on your U.S. tax return, including forms, taxable amounts, and currency conversion.
Arizona vs. California Taxes: Key Differences and Filing Tips
Explore the nuances of Arizona and California tax systems, including residency, rates, deductions, and filing tips for residents and nonresidents.
What Asset Cannot Be Depreciated? A Comprehensive Breakdown
Discover which assets retain value over time and why they cannot be depreciated in this detailed guide.
Do Servers Usually Owe Taxes at the End of the Year?
Explore why servers might owe taxes at year-end, focusing on tip income, reporting practices, and financial implications.
How Many Times Can You Claim the EV Tax Credit?
Explore the guidelines and strategies for claiming the EV tax credit multiple times, including rules for single and joint filers.