Taxation and Regulatory Compliance

Explore the rules and options for spouses choosing between itemizing deductions and taking the standard deduction on their tax returns.

Explore the nuances of managing multiple DBAs within an S Corp, including filing, reporting, and accounting practices.

Learn how to manage taxes and depreciation when renting out a room in your home, ensuring compliance and maximizing financial benefits.

Explore the importance of return due dates versus received dates and their impact on financial outcomes and filing methods.

Learn the steps to update your business name on an EIN, ensuring compliance and seamless transitions with financial entities and documentation.

Explore how difficulty of care payments are classified for tax purposes and their implications on deductions, credits, and Social Security.

Learn how to accurately report cash surrender value on your tax return, including calculations, forms, and potential impacts on your finances.

Understand the tax implications of gambling winnings, including when a 1099 is issued and your responsibilities for reporting income.

Learn about tax filing obligations for LLCs with no income, including federal and state requirements, and the importance of maintaining accurate records.

Learn the IRS rules for claiming a guardianship dependent, including criteria for age, support, residency, and filing requirements.

Discover how claiming dependents can impact your tax liability and learn the steps to maximize your eligible credits efficiently.

Explore the implications and guidelines of using your parents’ address as your permanent address for taxes, insurance, credit, and legal documentation.

Discover how to navigate tax deductions for a new AC unit, including classification, depreciation, and potential energy incentives.

Learn how independent contractors can differentiate between commuting and business travel to maximize mileage deductions on their taxes.

Understand the essentials of filing a 1099-B form, including triggers for issuance and key documentation practices.

Explore steps to resolve discrepancies when the IRS cashes your check but claims you still owe money. Learn about common issues and solutions.

Learn the criteria and considerations for claiming your 21-year-old as a dependent on your taxes, including support and income guidelines.

Learn how to efficiently track your Maryland tax refund and address any potential delays with practical steps and resources.

Explore the nuances of claiming nail expenses as a business deduction, focusing on criteria, documentation, and applicable professions.