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!
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Taxes
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.
We often think of the IRS as the enemy, but believe it or not, sometimes they do offer mercy and even debt forgiveness. Today, I’ll walk you through the IRS Debt Forgiveness Program so you can determine whether or not…
Since the money is coming from the government to start with, many people ask, “Do I have to pay taxes on my unemployment benefits?” In today’s article, I’ll answer that question and respond to the most frequently asked questions regarding…
In order to claim a federal tax refund for a deceased person, you may need to file Form 1310. I’ll answer some common questions about requesting a tax refund due to a deceased taxpayer and point out some details and related tax forms that are sometimes overlooked.
The IRS cycle code is an eight-digit number that you can find on your online tax transcript once your return has been posted to the IRS Master File. If you see a cycle code along with transaction code 150, you’ll know that your tax return is being processed.
If you’ve noticed Code 570 and Code 971 on that transcript and are wondering what those codes mean for you and your money, today I’ll explain all of the possibilities for you.
In the United States, we have a progressive tax system based on tax brackets. How these tax brackets work is something that is commonly misunderstood. In today’s article, I will explain how tax brackets affect you so you’ll have the…
Step-by-step instructions on how to reach a real person at the California Franchise Tax Board.
This article explains an S-Corporation basis and why it’s an important number to keep your eye on as a small business owner.