Taxes
Need to learn about U.S. taxes? We’ve got everything you need – all in one location.
Latest Articles
Form 990-T for Unrelated Business Taxable Income – How to Prepare for 2022
The Form 990-T is filed by a tax exempt entity to report unrelated business taxable income. Certain entities must pay corporate income taxes on any UBTI. This sample Form 990-T is for a private foundation for the 2022 tax year.
Wisconsin Form 1 Income Tax Return for Full Year Resident
A full-year resident of Wisconsin is generally a tax resident and must file an annual Form 1 Wisconsin state income tax return. This sample covers a 2022 Form 1 tax return.
Form 990-T for Unrelated Business Income – How to File For 2023
The Form 990-T is filed by a tax exempt entity to report its unrelated business income. Tax exempt entities must pay federal corporate income taxes on any UBTI. This video and article cover a sample Form 990-T for the 2023 tax year.
Earned Income Tax Credit – How to Calculate the Credit
The earned income credit (EIC) helps low income taxpayers reduce their federal tax liability. This article and video cover a sample calculation for the 2023 tax year.
Child Tax Credit – How to File with Two Qualifying Children
The Child Tax Credit (CTC) is available to taxpayers with qualifying dependent children. This example covers a family with two qualifying children and how it increases their CTC amount.
Earned Income Tax Credit for 2024 – How to Claim with Two Qualifying Children
The Earned Income Credit (EIC) is a federal tax credit used by families to reduce their federal tax liability. This tutorial examines how to claim the EIC with two qualifying children.
Child Tax Credits – Can You Claim with Zero Income?
The Child Tax Credit (CTC) is a federal tax credit helping families with dependent children. In order to claim the credit, you must generally have at least some earned income. If you have zero income, what can you do?
TurboTax Form 1040 Tutorial for 2023 – Step-by-Step Guide
This video tutorial covers a sample Form 1040 (US Individual Income Tax Return) prepared using TurboTax software.
Earned Income Tax Credit – Investment Income Limitations
The earned income credit (EIC) is a valuable federal tax credit available to some taxpayers that have earned income, such as wages and other compensation. However, the EIC may be unavailable if the taxpayer has too much investment income.
Earned Income Tax Credit – Self-Employed Person with No Qualifying Children
The Earned Income Credit (EIC) is a federal tax credit which helps low to medium income households reduce their federal tax liability. This sample covers how to calculate the EIC for a self-employed person with no qualifying children.
Form W-2 Walkthrough – Example with Form 1040
The IRS Form W-2 (Wage and Tax Statement) is filed by employers to report the wages paid to employees and taxes withheld. This sample Form W-2 walkthrough covers the main elements and how they are reported on Form 1040.
Child Tax Credit and Form 8332 – How to File for Release of Dependent Claim
The Child Tax Credit (CTC) is a valuable federal tax benefit to parents with dependent children. In some cases, separated parents may need to release the dependent claim to the noncustodial parent. This is completed using Form 8332.
Form 1120-S Tax Return – How to File Final Return for 2023
The Form 1120-S tax return is filed each year by an S corporation to report its income, expenses, and other tax items. This sample Form 1120-S examines how to prepare a "final" return for the year the entity closed.
Form 8863 – How to File the Lifetime Learning Tax Credit for 2023
The lifetime learning credit is a federal tax credit which helps supplement the cost of higher education for U.S. taxpayers. This Form 8863 tutorial covers how to claim the credit for the 2023 tax year.