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Section 1231 Examples, How It Works, And Reporting Them On Your Taxes
What is Section 1231? Section 1231 of the tax code provides guidance on the treatment of gains and losses derived from the sale or exchange…
How a 1099 Tax Calculator Adds Up to Big Savings for Contractors and Self-Employed Individuals
What is a 1099 Tax Calculator? If you're a freelancer, independent contractor, or vendor who isn't on an employer's payroll, you may receive a 1099…
Adoption Tax Credit and the Benefits of Qualified Adoption Expenses
Overview of Adoption Tax Benefits This credit seems pretty direct, but a lot of paperwork. Then again, if you're adopting a kid, the paperwork's not…
What Do I Do With an IRS Adjusted Refund Letter?
I must have been doing something right for years -- I've never heard of this Adjusted Refund letter. An Adjustment Notice is a letter sent…
You Received a 5071C Letter. Now What?
What's the Purpose of the 5071C Letter? IRS Letter 5071C serves a crucial purpose in protecting taxpayers from potential tax fraud. In short, the IRS…
How Your Employer Match Contributions Affects 401k Limits
No, your boss's 401k match doesn't count toward your limit. So stop buying pumpkin spice lattes every day and invest in your future. Does employer…
The Tax Basics of 401k Distributions and Contributions
What Are the Maximum Contribution Limits for a 401k? Here's a round-up of the 401K tax deductions! A 401k retirement plan is an employer-sponsored investment…
What Business Owners and Employers Should Do When The IRS Gives Them a 147c Letter
Understanding Your Specific IRS Letter 147c IRS Letter 147c is an official form of verification issued by the IRS (Internal Revenue Service) that confirms the…
