general
Are Excise and sin taxes the same?
A sin tax is an excise tax on socially harmful goods. An excise tax is a flat tax imposed on each item sold. The most commonly taxed goods are alcohol, ci...
Jul 30, 2026 • 1 READS
news
Can I file for divorce if we still live together in Texas?
Yes. You can obtain a divorce in Texas as long as one party meets the residency requirements. However, you will need a long arm provision, which incurs an...
Jul 30, 2026 • 1 READS
updates
How do I correct an over contribution to a Roth IRA?
You have a few options if you discover an excess contribution after you file your taxes: Contact your plan administrator and file an amended tax return. C...
Jul 30, 2026 • 1 READS
updates
How do I get a refund from American Opportunity Credit?
To claim the full credit, your modified adjusted gross income (MAGI) must be $80,000 or less ($160,000 or less for married filing jointly). You receive a ...
Jul 30, 2026 • 1 READS
general
Are spendthrift trusts valid in all states?
Creditors cannot take money from the general funds of a spendthrift trust. In fact, most states do not allow these types of trusts. Many states have laws ...
Jul 30, 2026 • 1 READS
news
Can an LLC File 2553?
If so, the LLC will be taxed under Subchapter C of the Code. And, once it has elected to be taxed as a corporation, an LLC can file a Form 2553, Election ...
Jul 30, 2026 • 1 READS
news
How do you account for dividends reinvested?
How to Account for a Dividend Reinvestment Record the amount of your dividend. Add the dividend amount to your initial cost basis. Divide your total combi...
Jul 30, 2026 • 1 READS
news
How do you qualify for additional Child Tax Credit?
To be eligible for the child tax credit, the child or dependent must: Be 16 years or younger by the end of the tax year. Be a U.S. citizen, national, or r...
Jul 30, 2026 • 1 READS
news
Do you have to have a LLC for a rental property?
Make sure that your LLC is registered in the same state as your rental property. Transferring Your Rental Property Into an LLC If your rental property alr...
Jul 30, 2026 • 1 READS
updates
Is inheritance community property in Louisiana?
Louisiana does not impose any state inheritance or estate taxes. It’s also a community property estate, meaning it considers all the assets of a married c...
Jul 30, 2026 • 1 READS
