updates

Is IRA pre-tax or post tax?

A Traditional IRA is an Individual Retirement Account to which you can contribute pre-tax or after-tax dollars, giving you immediate tax benefits if your ...

Jul 08, 2026 • 1 READS

updates

How are cap gain distributions taxed?

Under current IRS regulations, capital gains distributions are taxed as long-term capital gains, no matter how long the individual has owned shares of the...

Jul 08, 2026 • 0 READS

updates

What happens to unused dependent care FSA?

Typically, you cannot carry over any unused funds from year to year in a dependent-care FSA, and carryover amounts for health FSAs are limited ($550 witho...

Jul 08, 2026 • 1 READS

updates

Are medical expenses deductible on Form 1041?

Yes, except for medical and funeral expenses, which you do not deduct on Form 1041. Medical expenses of the decedent paid by the estate may be deductible ...

Jul 08, 2026 • 1 READS

updates

Do you have to pay taxes on a house sold for 350, 000?

If you later sell the home for $350,000 you only pay capital gains taxes on the $50,000 difference between the sale price and your stepped-up basis. If yo...

Jul 08, 2026 • 1 READS

updates

Can I claim a child that is not related to me on my taxes?

You can claim a boyfriend or girlfriend and their children as dependents if they are your qualifying relatives. Also, the child will not qualify you for e...

Jul 08, 2026 • 1 READS

updates

Do you report bond premium on taxes?

If the bond yields tax-exempt interest, you must amortize the premium. This amortized amount is not deductible in determining taxable income. Which bonds ...

Jul 08, 2026 • 1 READS

updates

What is the purpose of cost accounting?

The main objective of cost accounting are ascertainment of cost, fixation of selling price, proper recording and presentation of cost data to management f...

Jul 08, 2026 • 1 READS

updates

How do I pay my Montana quarterly taxes?

You can pay electronically at Click on “Make a Payment.” You can also make estimated tax payments by check using the individual income tax payment voucher...

Jul 08, 2026 • 1 READS

updates

Will I get the Child Tax Credit if I owe the IRS money?

No. Advance Child Tax Credit payments will not be reduced (that is, offset) for overdue taxes from previous years or other federal or state debts that you...

Jul 08, 2026 • 1 READS