Basically, you must file Form 8606 for every year you contribute after-tax amounts (non-deductible contributions) to your traditional IRA. Conversions fro...

If a financial institution pays the bond, you will receive a paper 1099-INT from that financial institution either soon after you cash your bonds or withi...

Immediate payment annuities are sold by insurance companies and can provide income to the owner almost immediately after purchase. Buyers can choose month...

Unfortunately, yes. All self-employment income must be reported. Although you may or may not owe any federal income tax, you may owe Social Security and M...

A sale of personal goodwill, if respected by the IRS, creates long-term capital gain to the shareholder, taxable at up to 23.8% (maximum capital gain rate...

File estate tax Form 1041 in the year the estate closed. Make sure you mark the Final return box on the face of the return. Also, check the Final K-1 box ...

Regardless of whether or not a purchase or sale is private or IRS 1099-B reported, currently no bullion product sales are exempt from any applicable capit...

Northam extends due date for Virginia income taxes to May 17 Virginians usually must file their taxes by May 1. The federal due date is usually April 15 b...

SBA Disaster Loans carry low fixed interest rates and generally feature low fixed monthly payments. The interest rate for EIDLs due to COVID-19 is a fixed...

In the case of a non-SSTB, when taxable income exceeds the threshold amount, the QBI deduction is calculated by taking the lesser of: 20% of QBI; or. The ...