Taxes
Need to learn about U.S. taxes? We’ve got everything you need – all in one location.
Latest Articles
Tax Refund Updates – 2023 Tax Season
Tax refunds are slowly making their way to taxpayers. When will you receive yours?
How to File IRS Form 1065 for 2022 – Rental Real Estate LLC
The Form 1065 partnership return is filed on an annual basis for any partnership that has income or expense for the year. This example covers a Form 1065 filing for a rental real estate LLC.
How to File IRS Form 1120 for 2022 – Lawncare Business Example
The Form 1120 is a corporate tax return filed by every domestic corporation when it has income & expenses. This article covers an example for a lawncare business for the 2022 tax year.
How to File IRS Form 1120-S for 2022 – Lawncare Business Example
The Form 1120-S is an S corporation tax return filed each year. This article and video tutorial covers an example filing for a lawncare business for the 2022 tax year.
How to File IRS Form 1065 for 2022 – Landscaping Business Example
Form 1065 is an annual tax filing for a U.S. partnership. In this example, we cover a Form 1065 filing for a landscaping company based in Florida.
How to File IRS Form 1120-S for 2022 – Restaurant Example
The Form 1120-S is an annual S corporation tax filing which reports the income, expense, credits, distributions and other transactions of an S corporation. This example looks at a restaurant business for the 2022 tax year.
How to File IRS Form 1065 for 2022 – Restaurant Example
Every domestic partnership needs to file an annual Form 1065 to report its income, expenses, credits, distributions, and other partnership transactions. The example tutorial in this article looks at a Form 1065 filing for a restaurant business for the 2022 tax year.
IRS Form 5695 – Small Wind Energy Tax Credit
Taxpayers may be eligible for a wind energy tax credit when they file their annual Form 1040 tax return. This article covers the basics of the small wind energy credit and how to complete Form 5695.
IRS Form 5695 – Solar Electric Tax Credits for Solar Panel Systems
U.S. taxpayers may be eligible for a solar electric tax credit if they make certain eligible improvements to their home. This article covers the basics of the solar electric credit and a sample Form 5695 to calculate the tax credit.
IRS Form 5695 – Solar Water Heating Property Tax Credit
If taxpayers make eligible energy efficient improvements to their home, they may qualify for a federal tax credit. This article covers the solar water heating property tax credit and how to complete Form 5695 with the Form 1040.
IRS Form 5695 – Residential Energy Tax Credits
A U.S. taxpayer may be eligible for a residential energy tax credit if they make eligible improvements to their property. This article covers the basics and a sample Form 5695 for the 2022 tax year.
Child Tax Credits – What is the Support Test?
In order to claim the child tax credit (CTC) taxpayers must have a qualifying child and meet other criteria. This article discusses what it means to meet the "support test" for CTC.
Child Tax Credits – Impact on Unemployment and Welfare Benefits
Many taxpayers with children are eligible for a child tax credit (CTC) when filing their annual Form 1040. A common question is whether the benefit from the CTC impacts their existing unemployment or welfare benefits.
Child Tax Credits – Income Thresholds & Phaseouts
Many taxpayers with children are eligible for a child tax credit (CTC) when filing their annual Form 1040. However, the CTC is subject to phaseouts if the taxpayers' income exceeds certain thresholds.
Form 1040 Filing Thresholds for Self-Employed Persons
If an individual runs a sole proprietorship business, they are generally considered self-employed for federal tax purposes. Self-employed persons with income over certain thresholds must file a Form 1040 tax return to report their SE income.