updates

What is inside basis difference?

Inside Basis vs Outside Basis – Inside Basis Inside basis refers to the adjusted basis of each partnership asset, as determined from the partnership’s tax...

Aug 25, 2026 • 1 READS

updates

Is AFLAC deduction pre-tax?

Not only do you enhance your benefits package by offering your employees Aflac insurance policies on a pre-tax basis, but you actually save money too. Ext...

Aug 25, 2026 • 1 READS

updates

Can you sell your house if you are in a reverse mortgage?

Therefore, the answer is yes: a borrower can sell a home with a reverse mortgage at any time they choose, just like a traditional mortgage. When a borrowe...

Aug 25, 2026 • 1 READS

updates

How much does having a child increase your tax return?

For 2020, a new baby also delivers a tax credit of up $2,000, even if the child was born late in the year. Unlike a deduction that reduces the amount of i...

Aug 25, 2026 • 1 READS

updates

Do you have to file a 1099 for a LLC?

An LLC that is taxed as a corporation files different forms that replace the use of Form 1099-MISC. However, if an it is taxed as a partnership, the IRS r...

Aug 25, 2026 • 1 READS

updates

Can I claim head of household if my husband is disabled?

Claiming Disabled Person on Taxes Under IRS rules, your spouse qualifies for the credit as long as they cannot care for themselves either physically and m...

Aug 25, 2026 • 1 READS

updates

When is last chance to get tax refund for 2015?

Time matters with tax refunds. If you received an extension for the 2015 return then your deadline is October 15, 2019. If you miss the deadline, any exce...

Aug 25, 2026 • 1 READS

updates

What kind of Social Security benefits does a disabled parent get?

When a child collects benefits based on the Social Security record of a disabled parent (that is, a parent who is disabled and who has earned sufficient c...

Aug 25, 2026 • 1 READS

updates

How long does someone have to live when hospice is called?

You are eligible for hospice care if you likely have 6 months or less to live (some insurers or state Medicaid agencies cover hospice for a full year). Un...

Aug 25, 2026 • 1 READS

updates

What is the Ein number for an estate?

Before filing Form 1041, you will need to obtain a tax ID number for the estate. An estate’s tax ID number is called an “employer identification number,” ...

Aug 25, 2026 • 1 READS