Many couples choose to live together without getting married, sharing everything from rent and groceries to utility bills and healthcare. In some cases, one partner […]
Essential IRS Tax Forms for Self-Employed Individuals
Filing taxes as a self-employed individual is quite different from the process that employees follow. Instead of receiving a W-2 that simplifies income reporting and […]
Form 1099-C Explained: How Canceled Debt Affects Your Taxes
Navigating your taxes can be difficult, especially when unexpected forms arrive in the mail. One such form is IRS Form 1099-C, which is issued when […]
Capital Gains Tax Rules: When It Applies and How Much You’ll Owe
Understanding capital gains tax is essential for anyone who owns investments or property. Whether you’ve sold your house, a stock portfolio, or another asset, knowing […]
Understanding IRS Form 1099-NEC: Reporting Nonemployee Compensation
As the freelance economy expands and more individuals take up contract-based work, understanding the paperwork involved becomes vital. IRS Form 1099-NEC is central to this […]
Gift Tax and Adult Children: When Financial Help Becomes Taxable
In today’s economic climate, many parents continue to support their adult children well into their 20s or even 30s. Whether your child is living at […]
What Is the Long-Term Capital Gains Tax Rate? Full Breakdown
When you sell a valuable item like a house, stock, or even a car and earn a profit, that gain may be subject to taxation. […]
Form 1041 Explained: When and How to File for Estates and Trusts
With a growing number of Americans managing financial matters for aging parents and loved ones, many are encountering estate and trust taxes for the first […]
Can You Claim Your Parents as Dependents on Your Taxes?
When it comes to filing your income tax return, you likely already know that you can claim your children as dependents. But what about your […]
Lending Money to Family: What the IRS Wants You to Know
Parents often help their children financially whether it’s by covering tuition, co-signing a loan, or helping with a down payment on a first home. While […]
Itemized vs. Above-the-Line Deductions: What’s the Difference?
When preparing your tax return, one of the most valuable tools available to reduce taxable income is the use of deductions. However, not all deductions […]
Track Your 2025 West Virginia Tax Refund: Find Out Where It Is
Filing your 2024 state income taxes can feel like a daunting process, especially when you’re unsure of when to expect your refund. For residents of […]
Where’s My NY State Tax Refund? How to Check Refund Status
Just like with federal refunds, you can check the status of your New York State tax refund online. To do this, you will need to […]
Service Animals and Tax Deductions: What Qualifies and What Doesn’t
When people think of medical expenses that might be deductible on a tax return, they usually think of prescriptions, surgeries, and doctor visits. But one […]
Is Child Support Taxable? Understanding the Basics of Child Support and Taxes
When tax season arrives, many separated or divorced parents find themselves facing questions about how child support fits into their overall tax situation. Is child […]