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.
If you are tempted to jump on the latest investment bandwagon, pay attention to your buys and sells. Frequent buys and sells will have you paying taxes on the gains and having all your losses disallowed. In other words, you can lose money overall, but when tax time comes you pay taxes on the gains and can’t deduct the losses. You can lose money overall and then lose even more by having to pay taxes on gains you never received because they were eaten up by losses that no longer count.
The Augusts Rule says that you can rent out your personal residence for less than 15 days per year and it is NOT income.
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.
Don’t let tax software convince you that you are a business because you got a 1099. Hobbies are reported as “other income.”
Why are there different answers from different people? Laws are conflicting, situations are complex… get the full explanation here.
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.
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 manager cannot take your tips. You are not required to split your tips or “tip out” non-tipped employees.
Many types of income are tax-free and not considered income by IRS rules. Learn about excluded income and what you can deduct.
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.
Secure 2.0 section 604 now allows employers to match your ROTH contributions directly into your ROTH 401k.
Read how Accounting came to be my calling. Sometimes your calling in life isn’t what you planned but can end up being incredibly rewarding.
Can I deduct my home improvement expenses? Let’s see how selling your home is taxed and what to do now to minimize future taxes.
Learn what to bring to your enrolled tax agent or CPA when you’re ready to do your taxes and download our checklist.
The W-4 has changed significantly and can be really confusing. Learn how to fill out the new W-4 like a pro on your first day of work.
Need an old tax return? Find out what the IRS keeps for you, what you should keep, and how to get what you’re missing. #adulting
Why are there so many taxes taken out of my check? What are they? Is there anything I can do? Get these answers and more.
A hardship distribution for a new child should be treated as a rollover, but with three years to pay it back instead of only 60 days.
Child support explained by an accounting expert. Understand why the child support system is the way it is and how to navigate it successfully.
Arkansas Sales Tax is confusing. Many services are taxable in Arkansas. See if your business should be collecting Sales Tax.
What is Franchise Tax? Do I have to pay it? And why? All questions answered in this article. See if this affects your business.
Arkansas nonprofits have to file multiple forms with the state. Be sure to keep your nonprofit legal and file the correct forms annually.
Arkansas Commercial Property Tax Assessment is due May 31. This article will walk you through the process to make sure its right
Then the biggest, scariest monster of all shows up (the IRS) and tells you that payroll is not optional and you have to comply with all these laws you don’t even know about.
Are Liquor store receipts a tax deduction? Not all businesses are the same. Your accountant should ask you about your receipts.
What is a Registered Agent? Why do I need one for my LLC? What do they do? Who can be my Registered Agent?
Deducting your home office expenses can be tricky. If you have a business, made a profit, and work from home, learn how to take the deduction
Determining whether you are an employee or contractor can be confusing. Find out which you are and how to handle your taxes accordingly.
Entrepreneurs are often confused by business expenses and deductions. Learn the basics and get a free printable checklist for your deductions.
How Single Member LLCs, Shipwrecks, and the Dog Groomer can cost you money. Be sure your small business is not piercing the corporate veil.
If you are an LLC or a corporation (including Nonprofits) you should have an annual meeting every year, even if you are the only owner.
If your small business sells products of any kind, you need to know how to take inventory and you need to do it at the end of each year.
Nine things you need to do now (Before you file your taxes) Income Checkup – If you are going to
You need to comply with recent IRS rule changes and provide a tax-deductible receipt to your donors for money and used good donations.
“Am I a non-profit or for profit?” Learn what it means to be a nonprofit organization according to the IRS and for tax purposes.
Taxes for the Gig Economy can be difficult when you are on your own. Get the most deductions by tracking all your expenses.
You will need your Social Security statement to file a tax return. If you have any income besides Social Security, you may need to file.
When can you deduct you home improvement expenses? Does it go on a tax form? How are home improvements a tax deduction?
Home improvements and taxes, what actually qualifies as an improvement? Are home improvements tax deductible?
If you are driving to and from your primary location of work, no it is not a tax deduction.
What is insolvency and why is it important? What is Form1099C? Is it taxable? Is cancellation of Debt taxable?
Is car interest now tax-free? Diane explains car interest changes in the One Big Beautiful Bill in this video.
Is overtime tax-free? Diane talks about the One Big Beautiful Bill’s no tax on overtime and how it will affect your paycheck in this video.
Learn about reporting cryptocurrency transactions and what the IRS is planning if you don’t. Diane tells all in this video.
How do I report my driving gigs, like Uber, Lyft, DoorDash, Instacart, and Grubhub? Confused on the forms you are
Will changing my name mess up my taxes? Diane explains how your name change can affect how you file taxes in this video.
In the January 2026 Grass Roots Taxes Newsletter, we discuss what you should bring to your upcoming tax appointment to for filing.
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.
If you are tempted to jump on the latest investment bandwagon, pay attention to your buys and sells. Frequent buys and sells will have you paying taxes on the gains and having all your losses disallowed. In other words, you can lose money overall, but when tax time comes you pay taxes on the gains and can’t deduct the losses. You can lose money overall and then lose even more by having to pay taxes on gains you never received because they were eaten up by losses that no longer count.
The Augusts Rule says that you can rent out your personal residence for less than 15 days per year and it is NOT income.
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.
Don’t let tax software convince you that you are a business because you got a 1099. Hobbies are reported as “other income.”
Why are there different answers from different people? Laws are conflicting, situations are complex… get the full explanation here.
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.
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 manager cannot take your tips. You are not required to split your tips or “tip out” non-tipped employees.
Many types of income are tax-free and not considered income by IRS rules. Learn about excluded income and what you can deduct.
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.
Secure 2.0 section 604 now allows employers to match your ROTH contributions directly into your ROTH 401k.
Read how Accounting came to be my calling. Sometimes your calling in life isn’t what you planned but can end up being incredibly rewarding.
Can I deduct my home improvement expenses? Let’s see how selling your home is taxed and what to do now to minimize future taxes.
Learn what to bring to your enrolled tax agent or CPA when you’re ready to do your taxes and download our checklist.
The W-4 has changed significantly and can be really confusing. Learn how to fill out the new W-4 like a pro on your first day of work.
Need an old tax return? Find out what the IRS keeps for you, what you should keep, and how to get what you’re missing. #adulting
Why are there so many taxes taken out of my check? What are they? Is there anything I can do? Get these answers and more.
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.
Secure 2.0 section 604 now allows employers to match your ROTH contributions directly into your ROTH 401k.
Read how Accounting came to be my calling. Sometimes your calling in life isn’t what you planned but can end up being incredibly rewarding.
Can I deduct my home improvement expenses? Let’s see how selling your home is taxed and what to do now to minimize future taxes.
Learn what to bring to your enrolled tax agent or CPA when you’re ready to do your taxes and download our checklist.
The W-4 has changed significantly and can be really confusing. Learn how to fill out the new W-4 like a pro on your first day of work.
Need an old tax return? Find out what the IRS keeps for you, what you should keep, and how to get what you’re missing. #adulting
Why are there so many taxes taken out of my check? What are they? Is there anything I can do? Get these answers and more.
Arkansas Sales Tax is confusing. Many services are taxable in Arkansas. See if your business should be collecting Sales Tax.
What is Franchise Tax? Do I have to pay it? And why? All questions answered in this article. See if this affects your business.
Arkansas nonprofits have to file multiple forms with the state. Be sure to keep your nonprofit legal and file the correct forms annually.
Arkansas Commercial Property Tax Assessment is due May 31. This article will walk you through the process to make sure its right
Then the biggest, scariest monster of all shows up (the IRS) and tells you that payroll is not optional and you have to comply with all these laws you don’t even know about.
Are Liquor store receipts a tax deduction? Not all businesses are the same. Your accountant should ask you about your receipts.
What is a Registered Agent? Why do I need one for my LLC? What do they do? Who can be my Registered Agent?
Deducting your home office expenses can be tricky. If you have a business, made a profit, and work from home, learn how to take the deduction
Determining whether you are an employee or contractor can be confusing. Find out which you are and how to handle your taxes accordingly.
Entrepreneurs are often confused by business expenses and deductions. Learn the basics and get a free printable checklist for your deductions.
How Single Member LLCs, Shipwrecks, and the Dog Groomer can cost you money. Be sure your small business is not piercing the corporate veil.
If you are an LLC or a corporation (including Nonprofits) you should have an annual meeting every year, even if you are the only owner.
If your small business sells products of any kind, you need to know how to take inventory and you need to do it at the end of each year.
Nine things you need to do now (Before you file your taxes) Income Checkup – If you are going to
You need to comply with recent IRS rule changes and provide a tax-deductible receipt to your donors for money and used good donations.
“Am I a non-profit or for profit?” Learn what it means to be a nonprofit organization according to the IRS and for tax purposes.
Taxes for the Gig Economy can be difficult when you are on your own. Get the most deductions by tracking all your expenses.
You will need your Social Security statement to file a tax return. If you have any income besides Social Security, you may need to file.
When can you deduct you home improvement expenses? Does it go on a tax form? How are home improvements a tax deduction?
Home improvements and taxes, what actually qualifies as an improvement? Are home improvements tax deductible?
If you are driving to and from your primary location of work, no it is not a tax deduction.
What is insolvency and why is it important? What is Form1099C? Is it taxable? Is cancellation of Debt taxable?
Is car interest now tax-free? Diane explains car interest changes in the One Big Beautiful Bill in this video.
Is overtime tax-free? Diane talks about the One Big Beautiful Bill’s no tax on overtime and how it will affect your paycheck in this video.
Learn about reporting cryptocurrency transactions and what the IRS is planning if you don’t. Diane tells all in this video.
How do I report my driving gigs, like Uber, Lyft, DoorDash, Instacart, and Grubhub? Confused on the forms you are
Will changing my name mess up my taxes? Diane explains how your name change can affect how you file taxes in this video.
In the January 2026 Grass Roots Taxes Newsletter, we discuss what you should bring to your upcoming tax appointment to for filing.