Taxes
Latest Taxes News
What to Know About Form 8889 for HSAs
If you’ve made contributions to or taken distributions from a health savings account (HSA), the IRS requires you to report…
Gifts Today, Taxes Tomorrow: The Interplay Between Gift And Estate Tax
The intricacies of federal tax laws can be daunting, especially when it comes to understanding how gift and estate taxes…
Tax Implications for Reverse Mortgages
A reverse mortgage can be a useful way to access the value of your home without having to sell it.…
How To Survive An IRS Employment Tax Audit
In recent years, the IRS has devoted more resources to employment tax matters. In addition to standard non-reporting and non-payment…
9 Common Tax Mistakes and How to Avoid Them
The more money you make, the higher your tax liability could be. And making a mistake in your filing can…
Understanding Form 8606 for IRA Taxes
If you use an IRA to save for retirement, IRS Form 8606 might be an important part of tax season.…
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…
