I am a widow and recently received a lump sum and a small monthly payment from my husband's pension. Should I file an estimated income tax for the amount received, or count it as income on next year's taxes?

January 2nd, 2023

If a taxpayer pays off their Sallie Mae student loans, is any of that deductible? Or is it deductible when the loan was taken out in regard to tuition and other educational expenses?

March 28th, 2024

I have received my last check for the year and get paid on the first of the month. Can I file my taxes now?

March 13th, 2023

On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for $1,225,000. Present journal entries to record the following transactions for the current fiscal year: a. Issuance of bonds, b. First semiannual interest payment (cash portion only), c. Amortization of bond discount for the year, using the straight-line method of amortization.

June 28th, 2024

Why does a single person pay more tax than a married person?

June 25th, 2023