updates
Do you need a partnership to own a rental property?
Co-ownership of Rental Real Estate Does Not Require Partnership Formation. Generally co-ownership in rental property does not require the formation of a p...
Jul 22, 2026 • 1 READS
updates
Can you sell RSU immediately?
In most scenarios when your RSUs vest you can sell them immediately and there is almost no tax impact. However, if the stock reverts to the original IPO/V...
Jul 22, 2026 • 1 READS
updates
What does a 1031 exchange mean for the buyer?
A 1031 exchange allows you to sell one investment or business property and buy another without incurring capital gains taxes – as long as the exchange is ...
Jul 22, 2026 • 1 READS
general
What information do you need to submit a 1096?
How to Fill Out and Read Form 1096 First, enter the name of your business (under “FILER’s name”) and address; the name of the person to contact; and that ...
Jul 22, 2026 • 1 READS
updates
Can I withdraw money from my defined contribution pension plan?
Defined contribution plans require that you collapse the plan by the end of the year you turn 71. At that point, you can withdraw the funds and pay tax on...
Jul 22, 2026 • 1 READS
updates
Are RMDs back for 2021?
If you delayed your first RMD until April 1, 2020, you avoided both the 2019 and 2020 RMD. However, in 2021 you will have to take your first RMD. This RMD...
Jul 22, 2026 • 0 READS
general
Can you own an LLC and be a W-2 employee?
Thankfully, an individual can form an LLC for their side business while working a W-2 job. Your employment status bears no weight on a state’s decision to...
Jul 22, 2026 • 1 READS
general
When do you need a 1099 for debt forgiveness?
Form 1099-C is a tax form required by the IRS in certain situations where your debts have been forgiven or canceled. The IRS requires a 1099-C form for ce...
Jul 22, 2026 • 1 READS
updates
Do you have to file Form 709 for a gift?
You must file Form 709 for any tax year in which you make a taxable gift unless you’re covered by one of the exclusions mentioned previously. If you file ...
Jul 22, 2026 • 1 READS
news
What does it mean when your taxes Say approved?
When you receive confirmation that the IRS accepted your return, it means that they have reviewed your return, and it has passed their initial inspection....
Jul 22, 2026 • 1 READS
