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These tax guides are here to help you with tax questions you may have, regardless if we prepare your taxes or not. Our tax guides below are full of answers to your tax questions, and they will be a great tax help to you when embarking on your tax preparation.
These tax guides contain general information for taxpayers to answer your tax questions. Accordingly, they should not be relied upon as a source of authority. Instead, taxpayers should seek professional tax advice for answers to specific tax questions.
Charitable Contributions Noncash FMV Guide
How much should you write off for all those household items you donated?
Charitable Contributions Recordkeeping Requirements
How to keep track of your charitable giving.
Extending Your Individual Income Tax Return
What to do when you can’t file your taxes on time.
Foreign Bank and Financial Accounts
Requirements for filing an FBAR if you have accounts overseas.
Health Care Reform – Cost Sharing Reduction and the Premium Tax Credit
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Health Care Reform – Health Insurance Marketplace
Applying for health insurance through the marketplace.
Itemized Deductions – Casualty and Theft Losses
Can you write off that bad loan you gave to Uncle Leo?
Sale of a Principal Residence
When the gain on your house sale is taxable, and when it isn’t.
Taxable Social Security Benefits
You worked your whole life for it, and now Uncle Sam wants some back.
Taxpayers Who Receive an IRS Notice
What to do when the IRS sends you a “not so” love letter.
Withholding – Filling Out Form W-4
How the heck do you fill out this ancient matrix of options?
Business Financing – Don’t Intermingle Funds
Why you need to keep business and personal finances separate.
Business Owners – Taking Money Out of a Business
How to take money out without commingling your assets.
Daycare Providers Income and Expenses
A guide to tracking income and expenses for your home daycare gig.
Form 1099-MISC and Form 1099-NEC Reporting
Miscellaneous Income vs Non-employee compensation.
Health Care Reform – Cost Sharing Reduction and the Premium Tax Credit
What health care reform means for a small business.
Health Care Reform – Employer Insurance Requirement
Are you required to offer your employees health insurance?
Inventory Cost of Goods Sold
When is inventory an asset, and when does it get turned become an expense?
Rental Income and Expense Worksheet
How to track the income and expenses for that house on Boardwalk.
Rental Income and Expenses
Developing a Profit & Loss statement for that house on Park Place.
Early Retirement Distributions – SEPP
Avoiding the penalty for taking money out of your retirement plan early.
Estate Planning, Wills, Probate, and Transfer of Assets
Proper tax planning can stay off Uncle Sam.
Death of a Taxpayer
Standard Mileage Rate, Inflation Adjusted Amounts, IRS Encourages e-File and Direct Deposit, IRS Encourages Taxpayers to Get an Identity Protection PIN., SALT Deduction Limitation is Constitutional, FBAR Penalty is Per-Account, Not Per-Form, Self-Directed IRA. DownloadDeath of a Taxpayer
Vehicle Depreciation Limits, Crowdfunding Update, Taxpayer Experience Office, Election Required to Claim Itemized Deductions, Mileage Log Book, IRS Impersonation Scams. DownloadDeath of a Taxpayer
Standard Mileage Rate, HSA Inflation Adjusted Amounts, IRS Has Destroyed Millions of Paper Filed 1099s, Taxpayers Can Now Track Refunds for Past Two Years, More Options to Correct Returns Electronically, Employer Leave-Based Donation Program, Clothing Resembling Scrubs Deductible as Uniforms. DownloadDeath of a Taxpayer
Penalty Relief for 2019 and 2020 Tax Returns, IRS Statement on Balance Due Notices (CP-14), More Options to Correct Returns Electronically, IRS Encourages Tax Professionals to Inform Clients AboutIdentity Protection PINs, Mileage Log Must Be Contemporaneous,
Individual Retirement Accounts – Backdoor Roth IRA
Traditional Individual Retirement Accounts and how to convert contributions to a Roth
Individual Retirement Accounts – Beneficiaries of IRAs and Qualified Plans
Who is going to benefit from that IRA?
Individual Retirement Accounts – Kinds of IRAs and Prohibited Transactions
Which transactions are a no-no with an IRA?
Individual Retirement Accounts – Qualified Charitable Distribution (QCD)
Donating part of your IRS to a worthy cause.
Individual Retirement Accounts – Required Minimum Distributions (RMDs)
What is an RMD, and when MUST you take it?
Individual Retirement Accounts – Traditional IRAs
The old-fashioned IRA, and when it is a good choice.
Charitable Contributions Noncash FMV Guide
How much should you write off for all those household items you donated?
Charitable Contributions Recordkeeping Requirements
How to keep track of your charitable giving.
Extending Your Individual Income Tax Return
What to do when you can’t file your taxes on time.
Foreign Bank and Financial Accounts
Requirements for filing an FBAR if you have accounts overseas.
Health Care Reform – Cost Sharing Reduction and the Premium Tax Credit
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Health Care Reform – Health Insurance Marketplace
Applying for health insurance through the marketplace.
Itemized Deductions – Casualty and Theft Losses
Can you write off that bad loan you gave to Uncle Leo?
Sale of a Principal Residence
When the gain on your house sale is taxable, and when it isn’t.
Taxable Social Security Benefits
You worked your whole life for it, and now Uncle Sam wants some back.
Taxpayers Who Receive an IRS Notice
What to do when the IRS sends you a “not so” love letter.
Withholding – Filling Out Form W-4
How the heck do you fill out this ancient matrix of options?
Business Financing – Don’t Intermingle Funds
Why you need to keep business and personal finances separate.
Business Owners – Taking Money Out of a Business
How to take money out without commingling your assets.
Daycare Providers Income and Expenses
A guide to tracking income and expenses for your home daycare gig.
Form 1099-MISC and Form 1099-NEC Reporting
Miscellaneous Income vs Non-employee compensation.
Health Care Reform – Cost Sharing Reduction and the Premium Tax Credit
What health care reform means for a small business.
Health Care Reform – Employer Insurance Requirement
Are you required to offer your employees health insurance?
Inventory Cost of Goods Sold
When is inventory an asset, and when does it get turned become an expense?
Rental Income and Expense Worksheet
How to track the income and expenses for that house on Boardwalk.
Rental Income and Expenses
Developing a Profit & Loss statement for that house on Park Place.
Early Retirement Distributions – SEPP
Avoiding the penalty for taking money out of your retirement plan early.
Estate Planning, Wills, Probate, and Transfer of Assets
Proper tax planning can stay off Uncle Sam.
Death of a Taxpayer
Standard Mileage Rate, Inflation Adjusted Amounts, IRS Encourages e-File and Direct Deposit, IRS Encourages Taxpayers to Get an Identity Protection PIN., SALT Deduction Limitation is Constitutional, FBAR Penalty is Per-Account, Not Per-Form, Self-Directed IRA. DownloadDeath of a Taxpayer
Vehicle Depreciation Limits, Crowdfunding Update, Taxpayer Experience Office, Election Required to Claim Itemized Deductions, Mileage Log Book, IRS Impersonation Scams. DownloadDeath of a Taxpayer
Standard Mileage Rate, HSA Inflation Adjusted Amounts, IRS Has Destroyed Millions of Paper Filed 1099s, Taxpayers Can Now Track Refunds for Past Two Years, More Options to Correct Returns Electronically, Employer Leave-Based Donation Program, Clothing Resembling Scrubs Deductible as Uniforms. DownloadDeath of a Taxpayer
Penalty Relief for 2019 and 2020 Tax Returns, IRS Statement on Balance Due Notices (CP-14), More Options to Correct Returns Electronically, IRS Encourages Tax Professionals to Inform Clients AboutIdentity Protection PINs, Mileage Log Must Be Contemporaneous,
Individual Retirement Accounts – Backdoor Roth IRA
Traditional Individual Retirement Accounts and how to convert contributions to a Roth
Individual Retirement Accounts – Beneficiaries of IRAs and Qualified Plans
Who is going to benefit from that IRA?
Individual Retirement Accounts – Kinds of IRAs and Prohibited Transactions
Which transactions are a no-no with an IRA?
Individual Retirement Accounts – Qualified Charitable Distribution (QCD)
Donating part of your IRS to a worthy cause.
Individual Retirement Accounts – Required Minimum Distributions (RMDs)
What is an RMD, and when MUST you take it?
Individual Retirement Accounts – Traditional IRAs
The old-fashioned IRA, and when it is a good choice.