Not All Donations to Charity Are Deductible
A common misconception people have about charitable contributions is that anything given to a not-for-profit counts as a deduction.
Having Negative Taxable Income Doesn’t Mean the Government Pays You Extra
The tax brackets stop at $0 of taxable income — having taxable income below $0 doesn’t mean your tax liability is a negative number or that the government “pays you more money.”
Do I Need Form 1095-C to File My Tax Return?
The short answer is: no, you do not need to have Form 1095-C in your possession before you file. Longer answer below.
Glossary: Social Security Wage Base
The term Social Security Wage Base refers to the maximum amount of wages or self-employment income on which the 6.2% Social Security tax is based.
Are Funeral Memorials Taxable?
Are funeral memorials considered taxable income to the recipient? The answer is no. These would be considered gifts, and gifts are never taxable to the recipient.
Taxation of Railroad Retirement Benefits
A blog post about taxation of railroad retirement benefits, a topic that seems complex on the surface.
How to Protect a Deceased Person’s Identity
How do you protect a deceased person’s identity? Here are a few tips.
Glossary: Estimated Tax Payments
Why make estimated tax payments?
Marriage in the Tax Code, Part 14: The Marriage Penalty Gets Worse Through the 1970s
The marriage penalty came about in 1971 and got worse in the next 10+ years.
Who Claims the Kids When a Single Parent Dies Mid-Year? Part 2
Who claims the kids when single parent dies mid-year? The answer isn’t clear-cut.