updates

Is business interest deductible in 2018?

Effective for tax years starting in 2018, a taxpayer’s deduction for net business interest is limited to 30 percent of adjusted taxable income, which is t...

Jul 26, 2026 • 1 READS

updates

How much does the government take when you sell your business?

If you sell an asset that you’ve held for more than 12 months, the proceeds will be treated as long-term capital gains. The maximum tax rate on capital ga...

Jul 26, 2026 • 1 READS

updates

Does layoff affect pension?

Question: Can I get my pension money if I am laid off? Answer: Generally, if you are enrolled in a 401(k), profit sharing or other type of defined contrib...

Jul 26, 2026 • 1 READS

updates

How are structured settlements paid out?

When the defendant and the plaintiff in a lawsuit agree to settle a claim with a structured settlement, the parties negotiate a cash amount payable by the...

Jul 26, 2026 • 1 READS

updates

What happens when you receive a Form 1099-C?

The Internal Revenue Service does not say that your debt balance is zero after a Form 1099-C is issued, or even that the bank cannot try to collect after ...

Jul 26, 2026 • 1 READS

updates

Do you have to file taxes if your partnership has no income?

Many partnerships can avoid taxes if they make no money. If you are involved in a partnership that is just getting off the ground, it might not have any i...

Jul 25, 2026 • 1 READS

updates

Do Qualified charitable distributions count toward RMD?

A QCD is a direct transfer of funds from your IRA custodian, payable to a qualified charity. QCDs can be counted toward satisfying your required minimum d...

Jul 25, 2026 • 1 READS

updates

Can a Realtor be self employed?

Most real estate agents and brokers receive income in the form of commissions from sales transactions. You’re generally not considered an employee under f...

Jul 25, 2026 • 1 READS

updates

What if I filed a 1099 with the wrong payer information?

If you discover that you filed a 1099 with the incorrect payer name, address, and/or taxpayer identification number (TIN), you must write a letter to the ...

Jul 25, 2026 • 1 READS

updates

Can a J-1 visa holder bring family?

The dependents (spouse and unmarried children under 21 years of age) of the J-1 Exchange Visitor are eligible for J-2 dependent status. Although dependent...

Jul 25, 2026 • 1 READS