news

Do tax credits impact tax basis?

Tax credits do not decrease the amount of taxable income, like deductions, but instead decrease the amount of tax owed dollar-for-dollar. Credits do not a...

Jul 19, 2026 • 1 READS

news

How do I file IRS Form 433-D?

There are two ways to submit the form: Electronically. There’s not a way to submit this form electronically, but you can view and pay your balance by goin...

Jul 19, 2026 • 1 READS

news

What is an S Corp basis schedule?

Unlike a C corporation, each year a shareholder’s stock and/or debt basis of an S corporation increases or decreases based upon the S corporation’s operat...

Jul 19, 2026 • 1 READS

news

Can you establish residency at a hotel in Pennsylvania?

Permanent resident. A person who has occupied or has had the right to occupy a room or rooms in a hotel for 30 consecutive days or more. He is not a perma...

Jul 19, 2026 • 1 READS

news

Do you have to upgrade to TurboTax Deluxe?

If we detect that your tax situation requires expanded coverage, like deductions for owning a home or self-employment income, we’ll prompt you to upgrade ...

Jul 19, 2026 • 0 READS

news

Are dividends taxed when received?

Generally speaking, dividend income is taxable. If you own a stock, such as ExxonMobil for example, and receive a quarterly dividend (in cash or even if i...

Jul 19, 2026 • 1 READS

news

Is TRS considered a 401K?

The benefits offered by TRSs include traditional defined-benefit pensions along with defined-contribution plans including 403(b) plans, which resemble 401...

Jul 19, 2026 • 1 READS

news

Is sales tax charged on labor in Florida?

Under Florida’s sales and use tax, if no parts were used in the service and the charge was for labor only, then there would be no tax to pay. But if any p...

Jul 19, 2026 • 1 READS

news

Can I claim a younger sibling as a dependent?

You can claim your sister’s child if you can claim your sister as a dependent and the child meets these tests: The child is one of these: Under age 19. Un...

Jul 19, 2026 • 1 READS

news

Are individuals still subject to AMT?

In 2017, the Tax Cuts and Jobs Act kept the AMT but raised the exemption and phase-out levels for the tax years between 2018 and 2025. It includes an auto...

Jul 18, 2026 • 1 READS