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 […]
What Is the Additional Child Tax Credit (ACTC) and Who Qualifies?
If you’re a parent or guardian preparing your taxes, you’re probably familiar with the Child Tax Credit (CTC). But what if your CTC amount is […]