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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Pay taxes on church raffle prize winnings
You will owe tax on your prize money, but you can deduct your donation if you itemize.
2 min read Nov 24, 2020 -
The tax joys of parenthood
Children are expensive. But parents can take advantage of several child-related tax breaks.
4 min read Mar 31, 2022 -
Report settlement proceeds on taxes
Settlement proceeds may or may not be deductible, depending on the facts and circumstances.
2 min read Oct 22, 2019 -
Tax deductions for work expenses
The protective gear is tax deductible, but do the math to be sure it makes sense to itemize.
2 min read Oct 22, 2019 -
Determining basis as a joint tenant
You would have gotten a bigger tax break if your aunt had left her property to you in a trust.
3 min read Oct 22, 2019 -
Taking a tax deduction on an RV as a home
The rules for deducting mortgage interest on income taxes are broader than you might think.
2 min read May 12, 2022 -
Can passive losses offset a Roth conversion?
It’s possible you could use passive losses from real estate to offset a Roth conversion.
3 min read Nov 17, 2020 -
Can divorcee get innocent spouse relief?
You may qualify for innocent spouse relief. Here’s how to get a tax refund.
2 min read Sep 12, 2022 -
Determining taxation of disability benefits
One box of Form 1099-R tells if you owe an additional penalty, another if you owe tax.
1 min read Sep 12, 2022 -
Claiming unallowed losses on property sale
You can claim unallowed losses when you sell your property. Here’s what you need to know.
2 min read Sep 12, 2022 -
Can I get rental income loss deduction?
It’s nice of you to reduce your tenant’s rent. You can’t deduct a loss, but you have options.
2 min read Feb 08, 2022 -
Depreciation rules of a business property
You can’t write off the down payment, but you can do something else to lower your tax bill.
2 min read Dec 16, 2021 -
Claim lost down payment as a capital loss?
You can’t deduct the down payment as a capital loss, but you can deduct it as an ordinary loss.
2 min read Oct 22, 2019 -
Are dental expenses tax-deductible?
Dental expenses you paid for someone else may be tax-deductible under these circumstances.
2 min read Oct 22, 2019 -
Social Security survivors benefits taxable?
You don’t have to pay taxes on benefits for your son, but claiming him as a dependent depends.
2 min read Oct 22, 2019 -
Are contract labor costs tax-deductible?
The costs incurred in building a home aren’t deductible, but keep track of them for the future.
3 min read Oct 22, 2019 -
Tax penalty for cashing out a 401(k)
You’d have to pay income taxes, plus a possible penalty, and your retirement would be at risk.
2 min read Dec 17, 2020 -
Claim my 19-year-old qualifying dependent?
You can claim your son as a dependent, but if he had taxes withheld, he should file a return.
1 min read Jul 06, 2020 -
Claim tax refunds as income on tax return?
Amended returns yielded $9,000 in tax refunds on which IRS paid interest. What should we do?
2 min read Dec 16, 2021 -
Is charity care considered forgiven debt?
Hospitals sometimes pay your bill if you qualify for charity care, but will you owe taxes?
1 min read Jul 06, 2020
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