Which is college education expenses are tax deductible?
Reminder: Keep your documentation! Schools will provide (via mail or electronic portal) the student with a Form 1098-T , which will reflect tuition an......
When do you not receive a K-1 from a partnership?
Unfortunately, quite often such clients simply treat the prior year as “finished” once that return is filed by April 15 and simply ignore any K-1 that......
What can you write off on Schedule A?
Here is a list of allowable Schedule A itemized deductions: Medical and Dental Expenses. State and Local Taxes. Mortgage and Home Equity Loan Intere......
How do I report interest on a family loan?
The federal income tax results are straightforward if your loan charges an interest rate that equals or exceeds the AFR. You must report the interest ......
What is severance tax in oil and gas?
Severance Taxes by State Thirty-four states have enacted taxes or fees on the extraction, production and sale of oil and natural gas. These “severance......
