Tax guidance and resources
Looking for advice on lowering your federal or state taxes? You’ve come to the right place. Plus, get news and advice related to tax brackets, property taxes, estate taxes and more.
Taxes Basics
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Latest Articles
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Health care tax credit glitch for filers
Taxpayers who received an Obamacare tax credit may be shocked at filing time.
4 min read Jan 17, 2020 -
Pay estimated taxes for IRA withdrawal
You should pay estimated tax to avoid an underpayment-of-tax penalty. Here’s how it works.
2 min read Dec 17, 2020 -
Tax on master limited partnership in an IRA?
Whether you must pay tax on the conversion of master limited partnership shares in an IRA depends.
2 min read Oct 23, 2019 -
Stock splits and capital gains taxes
First you need to figure out your adjusted cost basis after a stock split. Here’s how to do it.
3 min read Oct 23, 2019 -
What if employer didn’t turn in payroll tax?
If your employer didn’t pay the IRS, you can still claim withheld taxes. Here’s what to do.
2 min read Oct 23, 2019 -
Capital gains tax on sale of fourplex
You must take into consideration several factors when calculating capital gains tax.
2 min read Oct 22, 2019 -
Is pain-and-suffering settlement taxable?
The short answer: Whether you owe tax depends on the facts and circumstances.
2 min read Oct 22, 2019 -
Cost basis for gift of subdivided property
Your cost basis is not the land’s value on the date when the land was subdivided.
2 min read Oct 22, 2019 -
Basis for depreciation on rental property
Here’s how to figure the basis for depreciation of the home you are converting to a rental.
2 min read Sep 09, 2021 -
What you can do now to protect tax refund
Take action to make it difficult for identity thieves to steal your tax refund.
2 min read Mar 03, 2022 -
Calculating cost basis of inherited property
To begin, find out the fair market value of the home on the two dates when you inherited it.
2 min read Oct 23, 2019 -
Conflict management among heirs: Sell land
Surviving family members have a tough time handling an estate when heirs are fighting.
2 min read Sep 02, 2022 -
2014 tax ballot initiatives in the US
Voters will have a chance to influence tax laws in the Nov. 4 election.
5 min read Sep 02, 2022 -
Calculating taxes on raffle prize winnings
Because the nonprofit doesn’t have to report the winnings, it makes things simpler.
3 min read Sep 02, 2022 -
The skinny on reverse 1031 exchange rules
There’s a way to buy a property before selling your 1031 like-kind exchange, but be careful.
2 min read Oct 23, 2019 -
Tax costs of paying off home with 401(k)
Consider all the consequences of paying off your home to become a long-distance landlord.
3 min read Dec 17, 2020 -
Black Farmers Settlement proceeds taxable?
Find out if the proceeds of a discrimination settlement are taxable.
2 min read Dec 17, 2020 -
Taxes on bequest of nonqualified annuity
A nonqualified annuity grows tax-deferred, so eventually Uncle Sam will want his share.
2 min read Jan 24, 2021 -
Depreciation of equipment on profit-loss statement
Depreciation lets you spread the cost of a fixed asset over its useful life.
2 min read Sep 09, 2021 -
Taxes on assets in a revocable living trust
Your friend left you assets in a living trust. Turns out she was very thoughtful.
2 min read Jan 24, 2021
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