Taxes
Latest Taxes News
What Is Net Investment Income and How Is It Taxed?
Net investment income (NII) is defined as the profit gained from investments after deducting certain related expenses. This includes various…
How to Report a Backdoor Roth IRA With Form 8606
A backdoor Roth IRA typically offers high-income earners a workaround to contribute directly to a Roth IRA when their earnings…
If You Missed A Tax Election Deadline, Consider Section 9100 Relief
There are many different tax elections available to taxpayers under federal tax law. And, often, these elections are advantageous. For…
How to Set Up a Payment Plan for Taxes You Owe
When an individual or business owes taxes to the Internal Revenue Service (IRS), settling the entire amount in a single…
Why Eliminating Tax On Social Security Benefits Is Bad Policy
Former President Donald Trump has joined other politicians advocating for abolishing taxes on social security benefits. The idea may make…
What Is a Gift Loan and How Does It Work?
A gift loan is essentially a loan with an interest rate well below the market average, or even no interest…
Pennsylvania Is Latest State To Sign On To The 2025 IRS Direct File Program
Pennsylvania has joined the list of states that will participate in the IRS Direct File program in 2025. The move…
1031 Exchange Rules in California
Selling an underperforming asset and buying a similarly priced, more promising investment is a logical business move – but what…
No, Bitcoin Won’t Solve Our National Debt
At a Bitcoin conference last weekend, Senator Cynthia Lummis (R-Wyo.) announced forthcoming legislation that would direct the Treasury to buy…
What Are the Imputed Interest Tax Rules?
Imputed interest rules can turn even a simple act of generosity into a taxable event. This IRS regulation requires interest…
