Tax guidance and resources

Latest Articles

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  Penalties for late tax returns

  If you haven’t filed a tax return since 2005, there’s no time to waste. But expect to pay a penalty.

  2 min read Mar 19, 2009
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  Deducting insurance from an S corporation

  If you’re in any business but real estate, an S corporation makes the most tax sense.

  3 min read Jul 23, 2018
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  When a relative qualifies as a dependent

  A qualifying relative does not have to live with you in order to be claimed as a dependent.

  2 min read Jul 23, 2018
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  Claiming a tax-exempt child after divorce

  A divorced dad who wants to claim his child as tax-exempt will have to provide proof to the IRS.

  3 min read Mar 11, 2022
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  Claiming the economic stimulus payment

  If you didn’t get the recovery rebate credit in 2008, you may be able to claim it this year.

  2 min read Jul 23, 2018
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  Stimulus pays a few more dollars at payday

  A third of the stimulus package is tax relief, but it puts only a few more dollars in your paycheck.

  5 min read Oct 23, 2019
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  When to pay shareholders in an S corp

  What are the rules for reasonable compensation when an S corp has been consistently losing money?

  2 min read Oct 23, 2019
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  Payroll taxes on health insurance?

  Employers usually set up health plans to be tax-free. So why is this employee taxed?

  2 min read Dec 16, 2021
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  Claiming a child as a tax dependent

  In order for parents to claim a child as a dependent, certain IRS tests must be passed.

  2 min read Sep 28, 2021
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  Claiming the child care credit

  When a newborn needs home medical care, can the parents claim the child care credit?

  1 min read Jul 23, 2018
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  Lending to friend? Charge interest

  Charging an appropriate level of interest can shield you from taxes when giving money to a friend.

  1 min read Jul 23, 2018
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  Figuring depreciation recapture

  Depreciation recapture on the sale of real property can be offset by capital losses.

  2 min read Nov 14, 2017
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  Computing rental depreciation

  Your income threshold makes a difference when figuring depreciation on a rental building.

  2 min read Feb 05, 2009
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  Foreign corporation taxes

  A partnership corporation with foreign partners has special tax withholding considerations.

  2 min read Jul 23, 2018
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  Your tax accountant has your number

  Being disorganized can cost you in taxes and fees. Avoid being labeled a ‘shoebox’ client.

  4 min read Oct 23, 2019
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  Capital gains exclusion amount

  Newlyweds selling their premarital homes will each get the $250,000 exclusion.

  2 min read Feb 02, 2009
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  IRA distribution taxes

  Unlike a qualified retirement plan, an IRA has no payback period for a distribution used to buy a home.

  2 min read Jan 28, 2009
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  Audio: How to file taxes for free

  The 2009 electronic filing system began January 16, and this year the IRS has added a new option.

  1 min read Oct 22, 2019
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  Taxes on mortgage default

  The bank’s actions will determine the tax consequences of walking away from your mortgage.

  2 min read Jan 27, 2009
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  Foreigners and withholding tax

  Withholding tax is due on stock dividends of U.S. companies even if you aren’t a U.S. citizen.

  1 min read Jul 23, 2018