Do I Owe Inheritance Tax?

Estate tax is paid by the estate. If you have an estate with enough wealth to owe estate tax, probate court is already involved and overseeing the bill payments and valuation of your property.

Paying Taxes on Inherited Property

If you inherit a piece of land or a car or jewelry or anything that isn’t cash, and you turn around and sell it immediately, chances are that your taxes are zero.

Insolvency: Word of the Week

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

What is Self-Employment Tax?

Self-Employment Tax is different from Income Tax. Learn the differences and what you need to do. Diane explains in this video.

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. Diane explains in this video.

Taxes for the Gig Economy

Taxes for the Gig Economy can be difficult when you are on your own. Get the most deductions by tracking all your expenses.

Employee or Contractor?

Determining whether you are an employee or contractor can be confusing. Find out which you are and how to handle your taxes accordingly.

But I Already Paid the Taxes on That! – Taxes Held Out on Payments

Do I have to report payments on my taxes when the taxes were held out? Am I paying the taxes twice? How to report gambling, 401k, settlements, and more.

Are Roth IRA withdrawals taxable?

Withdrawals from a Roth IRA can be taxable in some situations. Learn what is taxable and subject to penalty before you take money out.

Your Tips Are Your Money

Your Tips Are Your Money. Your manager cannot take your tips. You are not required to split your tips or “tip out” non-tipped employees.