Unraveling IRS Code 806: Understand the significance of ‘Credit for Withheld Taxes and Excess FICA’ on your tax transcript and its implications for your refund.
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Prepare for the mandatory BOI reporting starting 2024, detailing ownership information for businesses. Learn who’s affected and how to comply with the new rules.
Learn how to use IRS Form 8822-B to notify the IRS about changes in business address or responsible party to avoid missing critical communications.
A simple guide to completing IRS Form 8594 for asset acquisitions in business sales, ensuring both parties agree on the value for tax purposes.
Explore the benefits and setup process of a Solo 401(k) for small business owners, offering control over retirement savings and tax advantages.
Discover the IRS Direct File Project Pilot, aimed at simplifying tax filing through direct, free electronic submission options for taxpayers.
Understand the tax implications for giving and receiving gifts, including exclusions and reporting requirements, to navigate potential liabilities.
Maximize your tax savings with our Home Office Deduction Calculator, tailored for creative entrepreneurs working from home.
Explore whether preschool tuition is tax-deductible and how the Child and Dependent Care Credit can provide financial relief for eligible parents.
This article explains how capital gains tax applies to short-term and long-term gains and how it affects your overall tax liability.