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Taxes
Understanding Your Form 1040
Top tax professionals will tell you that effective tax planning needs to be proactive, not…
Form 8396: How to Claim Mortgage Interest Credit
Form 8396 is used to claim the mortgage interest credit. This is a nonrefundable federal…
I’m Selling My House to Downsize for Retirement, and I’ll Net $620k. Do I Have to Pay Capital Gains Taxes?
When you sell your primary home, the IRS allows you to exclude a significant portion…
Gearing Up For The 2025 Energy Tax Debate
The guidance implementing the energy tax credits in the Inflation Reduction Act is not yet…
How to Avoid Prohibited Transactions With Your Self-Directed IRA
A self-directed IRA is a retirement savings plan that allows you to decide what investments…
Federal Court Grants Summary Judgment Motion On Willful FBAR Penalty
Litigation in federal court is analogous to a game of chess. Although each side has…
How to Receive Charitable Tax Deductions
Every year, charitable individuals and households make one saying a reality when they make a…
Government Files Notice Of Appeal After Corporate Transparency Act Deemed Unconstitutional
(Author’s Note: Edited to reflect Statement from the Treasury.) You knew it was coming: the…
Who Is Eligible for the Earned Income Tax Credit (EITC)?
The earned income tax credit can provide substantial financial benefits for low-income working individuals and…
DOJ Alleges Decades-Long Tax Scheme To Hide Foreign Assets From IRS
On March 11, 2024, the Department of Justice (DOJ) announced that a Florida man had…
My Dad Left Me $450k in an IRA, But I’m in the 32% Tax Bracket. How Should I Structure My Withdrawals?
There are a couple of different sets of rules around inherited IRAs and you’re subject…
Don’t Skip The IRS ‘Yes Or No’ Crypto Tax Question On 2023 Tax Returns
There is a lot of talk about crypto investors and tax compliance, but a yes…
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