A friend owns a house and wants to claim a credit for a new house heater purchased by his stepdad in 2014. Can my friend still get the furnace credit?

September 17th, 2024

I had a business that failed in 2007. I do not owe any federal taxes for the business. How do I file my personal taxes? What income do I list on my 1040? Do I split the grand total of the partnership business income and list it as my income on my 1040, or do I use Schedule K or K-1 for the amounts to enter on my personal 1040?

November 10th, 2023

When someone claims a child as a dependent, does the Earned Income Credit (EIC) automatically go to that person as well? My understanding is that claiming a dependent and the EIC are two separate things independent of each other.

June 10th, 2023

My wife and I filed a joint tax return yesterday and chose the 6 to 8 day return option. We signed the documents at an H&R Block office. Is it too late to make a change to our filing?

May 11th, 2024

How can a small business owner deduct the premiums of a cash value insurance policy that acts as his retirement plan?

January 22nd, 2024