Tax Returns

Taxes are difficult to understand as they are. Adding in the complexities of tax forms can add to the confusion, especially when it comes to reporting rental income and expenses. Schedule E is an essential form for property owners and investors who need to report income and losses from rental real estate, royalties, partnerships, S […]

As the landscape of health care and financial planning evolves, it becomes increasingly crucial to understand the various tax forms that can impact both. One such form is the IRS Form 1099-LTC. This article aims to provide a comprehensive overview of what Form 1099-LTC is, its purpose, and how it affects taxpayers.  What is IRS […]

Schedule A is a tax form used in the United States for itemizing deductions on individual tax returns. Taxpayers opt for this form to maximize their deductions beyond the standard deduction provided by the IRS. This can lead to significant tax savings, especially for those with substantial deductible expenses. This article will cover the essentials […]

If all goes well during tax season, you file your tax return, get a decent tax refund and wait to do it all again next year. But what happens if you file a return but then notice an error? Do you let it be or file an amended return? If there are simple math errors, […]

Tax season often brings a mix of dread and determination as individuals and businesses prepare to file their returns. For those familiar with tax laws and confident in their abilities, the thought of helping someone else with their taxes might come up. But is it legal, advisable, or practical for a non-professional to handle another […]

For small business owners, figuring out taxes can often be complicated. Among the many forms and documents required by the IRS, Schedule C stands out as a vital component for sole proprietors and single-member LLCs. It’s the key to reporting income and expenses for your business, ultimately determining your taxable profit or loss. In this […]