Tax guidance and resources

Latest Articles

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  How do I: Calculate my taxable income?

  Doing your taxes can be a headache, and figuring out your taxable income is no exception.

  2 min read Mar 11, 2022
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  Home office can have hidden tax costs

  Claiming a home office deduction has many tax benefits, but it has some drawbacks.

  7 min read Jun 20, 2024
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  Claiming innocent spouse relief

  Claiming innocent spouse tax relief depends on whether you meet all of the IRS conditions.

  2 min read Jul 23, 2018
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  Does foreign corporation owe income tax on gains?

  A foreign person or corporation does not pay U.S. income tax on gains from the sale of most U.S. securities.

  1 min read Jan 15, 2009
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  Is long-term care insurance deductible?

  Long-term care insurance premiums within certain limits are deductible as itemized medical expenses.

  1 min read Jan 14, 2009
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  Maximizing farming deductions

  Don’t fence in your CPA if you want to claim all your farming business deductions.

  2 min read Jul 23, 2018
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  Choosing to form an S corp

  It makes no sense to form an LLC if you really want your business to be taxed as an S corp.

  2 min read Dec 30, 2008
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  Does a company T-shirt count as income?

  A company may want the shirts off employees’ backs, but certain corporate gifts aren’t counted as income.

  1 min read Dec 29, 2008
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  When a student is a dependent

  The rules for claiming a student as a dependent on your tax return depend on meeting certain tests.

  2 min read Dec 08, 2008
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  Capital gains on a duplex

  Figuring capital gains tax on the sale of a duplex is a game of percentages.

  2 min read Oct 22, 2019
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  Commuting costs got you down?

  Some companies are making employees’ treks to the office cheaper with tax-saving commuter accounts.

  6 min read Oct 22, 2019
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  Use of tax credits

  An adoption tax credit can’t be used against penalties and interest from back taxes owed. 

  2 min read Oct 22, 2019
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  Life insurance to pay off debt

  When life insurance is used to pay off a loan, it’s an exception to the tax-free rule.

  1 min read Oct 22, 2019
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  Millions in rebates, refunds returned to IRS

  Taxpayers are frustrated as the IRS tries to figure out how to get $266 million to the rightful owners.

  3 min read Jul 23, 2018
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  Valuing goodwill

  Helping a new owner learn the ropes should be reflected in the purchase price of the business.

  2 min read Oct 22, 2019
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  Choosing the correct form

  There are three basic tax return forms. Each offers specific filing opportunities and limitations.

  2 min read Jul 23, 2018
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  Gain on rental real estate

  Owners of condemned rental real estate can defer capital gains if they purchase another rental.

  3 min read Apr 06, 2022
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  Proof for claiming dependents

  The IRS rules for claiming a dependent seem simple, but proving it can be complex.

  2 min read Sep 28, 2021
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  Rolling into a Roth

  If a traditional IRA contains some after-tax contributions, it can still be converted to a Roth.

  1 min read Oct 22, 2019
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  Deducting exercise equipment

  If a doctor prescribes exercise equipment for physical therapy, the IRS allows a deduction.

  1 min read Oct 22, 2019