The qualified business income (QBI) deduction lets many sole proprietors, partners, S corporation owners, and some landlords deduct up to 20% of their business income. Learn who qualifies, income limits, the SSTB rules, and how to claim it.
Innocent spouse relief can free you from tax, interest, and penalties caused by a current or former spouse’s errors on a joint return. Learn the three types of relief, who qualifies, deadlines, and how to file Form 8857.
A 1031 exchange lets real estate investors defer capital gains tax by reinvesting sale proceeds in like-kind property. Learn the 45-day and 180-day deadlines, qualified intermediary rules, boot, and common pitfalls.
The kiddie tax taxes part of a child’s investment income at the parents’ rate. Learn who it applies to, how the income thresholds work, Forms 8615 and 8814, how it affects custodial accounts, and planning strategies.
The federal estate tax applies only to estates above a large exemption amount. Learn the current exemption, how the lifetime gift exclusion ties in, portability for married couples, state estate taxes, and filing Form 706.
The home office deduction lets self-employed people deduct part of their housing costs. Learn the exclusive-use test, the simplified and regular methods, Form 8829, depreciation recapture, and why most W-2 employees cannot claim it.
When you need to file an amended tax return, how to complete and e-file Form 1040-X, deadlines for claiming refunds, how to track the amendment, state amended returns, and common mistakes to avoid.
What Form 1099-K reports, the current $20,000 and 200-transaction threshold for payment apps and marketplaces, the no-minimum rule for card payments, how to report business income and personal item sales, and how to fix an incorrect form.
What happens in an IRS audit, the differences between correspondence, office, and field audits, how long the IRS has to audit, common red flags, how to respond to an audit letter, your taxpayer rights, and how to appeal.
How the Child and Dependent Care Credit works, who qualifies, which care expenses count, the $3,000 and $6,000 expense limits, the higher credit rates that began in 2026, Form 2441, and how it interacts with a dependent care FSA.