Why Do I Owe Taxes on My Inheritance?

When you make withdrawals, you will get a 1099-R at the end of the year and you need to report it as retirement income, even if you are not retired, even if you had taxes withheld.

Business or Hobby? – Are you overpaying you taxes?

Don’t let tax software convince you that you are a business because you got a 1099. Hobbies are reported as “other income.”

Is driving to work a Tax Deduction?

If you are driving to and from your primary location of work, no it is not a tax deduction.

Insolvency: Word of the Week

What is insolvency and why is it important? What is Form1099C? Is it taxable? Is cancellation of Debt taxable?