Introduction Once you reach a certain age, the IRS requires you to begin withdrawing a minimum amount each year from most retirement accounts. These Required Minimum Distributions (RMDs) are...
Introduction Inheriting an IRA can come with unexpected tax consequences—especially after the changes introduced by the SECURE Act and SECURE 2.0. Whether you’ve inherited a Traditional IRA or a...
Introduction Teachers often spend their own money on classroom supplies, professional development, and continuing education, yet many are unaware of the tax deductions and credits available to them. Whether...
Introduction Healthcare professionals, including doctors, nurses, dentists, therapists, and private practitioners, face unique tax challenges due to high income, self-employment taxes, and business expenses. Strategic tax planning can help...
Introduction Real estate agents operate as independent contractors or self-employed professionals, making tax planning crucial for maximizing deductions and reducing taxable income. Since agents often incur significant business expenses,...
Introduction The IRS Free File Program allows eligible taxpayers to file their federal tax returns for free using IRS-approved tax software. For 2025, the IRS has expanded eligibility and...
Introduction The IRS standard deduction is a key tax benefit that reduces taxable income, lowering the amount of taxes owed. Each year, the IRS adjusts the standard deduction to...
Introduction Legal fees can be expensive, but some may be tax-deductible if they meet IRS guidelines. The Tax Cuts and Jobs Act (TCJA) of 2017 eliminated most personal legal...
Introduction The Child Tax Credit (CTC) is a valuable tax benefit for families with dependent children, helping to reduce tax liability and, in some cases, provide a refund. The...
Introduction Small business owners and self-employed individuals often use their vehicles for work-related purposes. The IRS allows deductions for business-related car expenses, but specific rules apply. You can choose...