The FBAR (Foreign Bank Account Report), officially known as FinCEN Form 114, is a mandatory report for U.S. persons who…
Few things create more anxiety for taxpayers than the prospect of an IRS audit. While audits are rare—affecting less than…
Many U.S. expatriates living abroad are surprised to learn they must file the FBAR (FinCEN Form 114) to report their…
Most taxpayers think of deductions as part of Schedule A’s itemized deductions. But for certain professions, the IRS offers unique…
The student loan interest deduction is one of the few “above-the-line” tax breaks available to individual filers without needing to…
If you are a U.S. person with foreign bank or financial accounts totaling more than $10,000 at any point during…
Taxpayers in high-tax states like California, New Jersey, New York, Illinois, and Connecticut often feel the sting of limited deductions…
Yes, the $10,000 cap on the SALT deduction remains in effect for the 2025 tax year. This cap was introduced…
Being claimed as a dependent—especially a student or part-time worker—affects how much standard deduction you can take on your own…
Each tax season, one of the most important decisions individuals and families face is whether to claim the standard deduction…
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