Filing State Taxes Separately: Can You Itemize on State but Use Standard for Federal?

4 days ago

In some situations, taxpayers may benefit from using the standard deduction on their federal return while still itemizing deductions on…

Filing FBAR for Trusts, Corporations, and Other Entities

4 days ago

FBAR (Foreign Bank Account Report), officially FinCEN Form 114, isn’t just for individuals. U.S. entities—including trusts, corporations, partnerships, and limited…

FBAR vs. Form 8938 (FATCA): Key Differences and When You Must File Both

4 days ago

U.S. taxpayers with foreign financial assets may face two separate reporting requirements: the FBAR (FinCEN Form 114) and IRS Form…

FBAR Filing Deadline and Extensions: What You Need to Know for 2025

4 days ago

If you have foreign financial accounts that meet the reporting threshold, filing the FBAR (Foreign Bank Account Report) is a…

FBAR Filing (FinCEN Form 114) in 2025: A Complete Guide for Expats and U.S. Account Holders Abroad

4 days ago

The Foreign Bank Account Report, commonly known as FBAR, is a crucial filing requirement for U.S. persons who hold or…

Estimated Tax Payments Schedule for 2025: Key Deadlines for Freelancers & Small Business Owners

4 days ago

If you earn income that isn’t subject to withholding—such as self-employment, freelancing, rental income, or interest—you may need to make…

Education Tax Credits for 2025: Claiming the American Opportunity and Lifetime Learning Credit (Form 8863)

4 days ago

If you or your dependent are enrolled in post-secondary education, you may qualify for valuable education tax credits. Two of…

Earned Income Tax Credit (EITC) 2025: A Powerful Refund Boost for Low-to-Moderate Income Households

4 days ago

The Earned Income Tax Credit (EITC) is one of the most valuable tax benefits available to working individuals and families…

Do States Follow the Federal Standard Deduction? A State-by‑State Breakdown (2025)

4 days ago

Each state sets its own rules for standard deductions and itemized deductions on state returns. Many states “conform” to the…

Do I Need to File FBAR If I’m a Green Card Holder or U.S. Expat Living Abroad?

4 days ago

Many U.S. persons living abroad or holding a green card are unaware of their obligations to report foreign financial accounts…