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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Taxes on income from disability policy payout
How you invest the lump-sum payment will determine whether you pay taxes.
2 min read Mar 11, 2022 -
Report disability income from a work injury?
The taxability of disability income depends on whether and how you paid the premiums.
2 min read Feb 08, 2024 -
The skinny on IRS cost basis reporting
You can use one of three general options when reporting gains and losses to the IRS.
3 min read Feb 08, 2022 -
Pay capital gains tax rate with 401(k)?
While the capital gains tax rate doesn’t apply, tax-deferred growth can work wonders.
2 min read Oct 22, 2019 -
What to do about an IRS notice on taxes due
The IRS notice may be a mistake, but you need to get to the bottom of this.
2 min read Oct 22, 2019 -
Estate sale: Taxes on selling Mom’s things
Your tax basis on her stuff is the market value on the date of death. Here’s how it works.
2 min read Feb 05, 2021 -
Do I have to pay tax on an inherited IRA?
Inheritance taxes don’t apply. However, IRA distributions must be taxed eventually.
2 min read Sep 28, 2021 -
Avoid taxes on bonds used to pay college?
Need to save for college? Use your savings bonds without taking an income tax hit.
2 min read Sep 28, 2021 -
Deduct cost of paying someone to drive car?
You can pay a friend to drive your car and deduct the cost if you meet certain tests.
2 min read Sep 28, 2021 -
Finding a CPA for tax-planning purposes
Hire a CPA to help you figure out the most tax-efficient way to sell your mom’s stocks.
2 min read Oct 22, 2019 -
Mom is worried about tax hit from annuity
Now that you have invested in a tax-deferred annuity, don’t let the tax issue consume you.
2 min read Sep 03, 2021 -
Reporting interest from foreign financial assets
The forms are similar, but each has different requirements for filing them.
3 min read Sep 23, 2021 -
Reporting taxes for installment sale, gain
The tax you pay today depends on what you reported to the IRS when you sold the home.
2 min read Sep 03, 2021 -
IRS classifies tax payment as a tax refund
You need to find out what happened to your tax refund and why your payment wasn’t applied.
3 min read Sep 03, 2021 -
Adjusting for change in tax-filing status
To figure out how much you’ll owe next year, recalculate your taxes as a single filer.
2 min read Sep 03, 2021 -
First time figuring estimated tax payments
You can use safe harbor guidelines to estimate tax payments or use an alternative method.
2 min read Dec 08, 2020 -
Get an offer in compromise to pay tax bill?
Bankruptcy might help, but before you take that route, consider this option.
2 min read Dec 08, 2020 -
Capital gains tax on second home sale
You may not have to pay tax on the capital gain of a second home if you pass certain tests.
2 min read Dec 08, 2020 -
Taxes owed on an early 401(k) distribution
The tax you’ll owe will depend on what bracket you are in when you cash out your 401(k).
2 min read Apr 11, 2022 -
Deduct mortgage interest on a 2nd home?
The interest on the home you bought for your in-laws may be deductible in these cases.
2 min read Apr 11, 2022
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- Use the sales tax deduction
- Claim medical expenses
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- How long to get your tax return
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- Long-term capital gains tax
- Tips for paying estimated taxes
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- Do I have to file taxes?
- The best tax software