By convention, most U.S. residential rental property is depreciated at a rate of 3.636% each year for 27.5 years. Only the value of buildings can be depre...

Per diem rates typically range between $1.50 per hour to $3.00 per hour, with the higher end of the range typically being paid out when flying internation...

You will need to generate two 1098-T’s: The first will be marked Corrected. It must include the incorrect SSN. * It must also include zeroes in place of a...

The IRS allows you to roll over your HSA funds every 12 months and still maintain the tax-free status. After you request a rollover, your current HSA prov...

If you cosigned on your spouse’s student loans at any time, whether they’re federal loans, private loans, or refinanced loans, that means you are legally ...

Similar to business income, rental losses can be used to offset income earned from other sources. If your rental loss is more than your income from other ...

A single-member S Corp is a single-member LLC that has chosen to be treated as an S Corporation for tax purposes. A single-member S Corp is a single-membe...

Report a suspicious charge or debit immediately Contact your bank or card provider immediately if you suspect an unauthorized debit or charge. If a thief ...

Your dependent can file a return if they want to, even if they do not have to. If it is possible that they will receive a tax refund, they should file a r...

A 501 C (6) organization is tax speak for a business association such as a chamber of commerce. Although they’re organized to promote business, they don’t...