How can I effectively perform tax loss harvesting with long-term losses of $9,384.26 and short-term losses of $230.80, considering I have Apple stock that I would need to sell, currently using FIFO cost basis method?

July 9th, 2023

I am considering buying a Tesla and would like to know how the federal tax credit would be used if I don't itemize deductions. I am married filing jointly with a gross income of approximately $70,000, and part of my income is from SSDI, about $30,000.

August 11th, 2023

Can a mother claim her 18-year-old daughter as a dependent on her taxes if the daughter works part-time and lives with her sister but the mother still supports her financially?

June 29th, 2023

Should it reflect on the IRS account transcript if a tax preparer filed a one-time debt forgiveness, and if denied, is the IRS supposed to send a letter of notification?

July 30th, 2023

I am the owner of a sole proprietorship LLC in Oregon and I plan to hire my wife. How does the tax situation work, considering we file married jointly? Today, I used to report the business costs and profits and pay taxes on the net. How should I do it now?

July 6th, 2024