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What Is Tax Form 4835: What It Is And How To Use It
If you own farmland that someone else operates, you might be wondering how to report your income from that arrangement come tax time. That’s where…
What Is Tax Form 8911: What It Is And How To Use It
Form 8911 is used to claim the Alternative Fuel Vehicle Refueling Property Credit (similar to the EEHIC). If you installed EV charging or other qualified…
Form 7202: Remembering (And Handling) COVID-19 Relief
It’s time to take a walk down memory lane; unfortunately, we’re going back to a time you probably hated: The lockdowns. If you're self-employed and…
Form 4684: Reporting Casualty and Theft Losses in 2025
When disaster strikes (whether from a storm, fire, theft, or another unexpected event) the emotional and financial toll can be huge. If you've experienced a…
Tax Benefits of an LLC for Rental Property: What They Are and How to Take Advantage of Them
Rental property is a hot commodity these days, so if you own rental property or are considering investing in real estate, forming a Limited Liability…
State Income Tax Rates in the U.S.
State income tax rates vary widely across the U.S., from states with no income tax at all to those with steep progressive rates. This article…
Depreciation Recapture: What It Is and How It Affects Your Taxes
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2025/04/Mastering_Depreciation_Strategies1.mp4"][/video] What Is Depreciation Recapture? When you own property or assets used for business or income-generating purposes, you can claim depreciation on…
Paying Taxes When You Sell a House
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2025/03/Taxes_When_Selling_Your_Home.mp4"][/video] Technically, yes. However, the profit on home sale can be tax free if certain conditions are met. In fact, many…
