When checking your tax return status using the IRS’ “Where’s My Refund” tool, you might see a message referring to Tax Topic 152. But what does that mean? In today’s post, I’ll explain what Tax Topic 152 really means and…
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The 2% rule for itemized deductions is a concept that used to apply to certain types of miscellaneous expenses in excess of 2% of your adjusted gross income (AGI).
If you’ve submitted your tax return and have been checking your online IRS tax transcript, you may have noticed an IRS Code 150. So what does Code 150 mean? Read on to find out. What is Code 150? After submitting…
If you’re a small business owner, you’re likely working tirelessly to grow your company. As your business expands, you’ll want to carefully consider whether it’s time to hire your first employee. In today’s post, we’ll explore ten questions you should…
If you’re a small business owner, you’re likely aware of the home office deduction. But did you know there’s another tax break you can use that involves renting your home to your business? In today’s post, I’ll tell you how…
Here in the United States, we have a pay-as-you-go federal tax system, which means you have to pay your income taxes throughout the year as you earn your money. If you’re a small business owner, this usually means you make…
If your income is over the threshold allowed to open or fund a Roth IRA, then today’s post is for you! I’ll explain how you can get around this problem with a strategy called “backdoor Roth IRA.” And don’t worry;…
Can you deduct 20% of your net rental income from your income taxes? If your real estate investment brings in qualified business income (QBI), then you probably can!
If you’re one of the millions of people around the world who is using PayPal to send or accept money, there might come a time when you need to use their customer support to resolve an issue. In today’s article,…
Owning a home is an important dream and a pivotal milestone for many people. But can you get a mortgage with unpaid taxes? We’ll answer that and more in this article.