Direct Tax

How to Check for Common Errors on Your Form 1040 Before Filing

Filing your federal income tax return accurately is crucial for avoiding processing delays, refund issues, audits, or penalties. The IRS…

3 weeks ago

How to Carry Forward Unused Deductions or Losses

In an ideal tax world, every deduction or loss would immediately reduce your tax liability to the maximum extent. However,…

3 weeks ago

How to Avoid Net Investment Income Tax (NIIT) and Keep Your Refund

For high-income taxpayers, investment gains can come with an additional tax burden known as the Net Investment Income Tax (NIIT).…

3 weeks ago

How to Attach Form 8862, 8880, 8812 and Other Credits to Form 1040

When filing your federal income tax return using IRS Form 1040, you may be eligible for a variety of tax…

3 weeks ago

How the IRS Tracks Cryptocurrency Gains and Losses

Cryptocurrency has become a major part of the modern investment landscape, with millions of Americans trading, holding, and spending digital…

3 weeks ago

How Self-Employed Professionals Can Use Solo 401(k)s to Maximize Refunds

For self-employed professionals, saving for retirement and minimizing tax liability often go hand in hand. One of the most powerful…

3 weeks ago

How Parents Can Deduct 529 Contributions (State Tax Breaks)

Saving for a child's education is a top priority for many parents, and 529 plans are one of the most…

3 weeks ago

How Much Investment Loss Can I Deduct on My 1040 Return?

Investment losses are an inevitable part of participating in the stock market or other securities-based activities. While gains are celebrated…

3 weeks ago

How Much Can I Gift Without Paying Gift Tax?

Gifting money or assets is a common way for individuals to support loved ones, contribute to education, or transfer wealth.…

3 weeks ago

How Long Will It Take to Get My IRS Refund in 2025?

For millions of Americans, tax season brings a single pressing question: “How long will it take to get my IRS…

3 weeks ago

This website uses cookies.