The “Nanny Tax” Must be Paid for Nannies and Other Household Workers
You may have heard of the “nanny tax.” But if you don’t employ a nanny, you may think it doesn’t apply to you. […]
Don’t Forget to Empty Out Your Flexible Spending Account
If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an important date coming up. […]
Filing a Final Return for a Deceased Taxpayer
As reported via IRS Tax Tip 2023-51 4/17/2023
After someone with a filing requirement passes away, their […]
Tax Tips for New Parents
As reported via IRS Tax Tip 2023-89 in October 2019
Kids are expensive. Whether someone just brought a bundle […]
Is Your Side Hustle a Hobby or a Business?
As reported via IRS Tax Tip 2023-61 on 5/3/2023
Sometimes the line between having a hobby and running a […]
An Offer in Compromise Can Help Certain Taxpayers Resolve Tax Debt
As reported via IRS Tax Tip 2023-58 on 4/27/2023
When a taxpayer can’t pay their full tax […]
Understanding Digital Asset Reporting and Tax Requirements
As reported via IRS Tax Tip 2023-45 on 4/5/2023
All taxpayers that filed a 2022 tax year […]
How to Treat Tips for Tax Purposes
As reported via IRS Fact Sheet 2022-37 in October 2022
Tip income is taxable and must […]
Key 2024 Inflation-Adjusted Tax Amounts for Individuals
The IRS recently announced various 2024 inflation-adjusted federal tax amounts that affect individual taxpayers.
Most of the federal income tax […]
