Tax Preparation

More in Tax Preparation

Tax Treatment of Domain Name Costs

In the early days of the Internet, little precedent existed for how domain names were handled from an income tax standpoint. Central to the debate was whether they should be considered assets or expenses, but a 2003 U.S. Appeals Court ruling helped answer that question. Since ...

How to Report Accrued Interest on a Tax Return

When you own investments that pay interest, the company that holds your financial accounts reports earnings of $10 or more to you and to the IRS on Form 1099-INT. To the IRS, accrued interest is the earnings a bond pays to the seller, but which is reported to the buyer in boxes ...

How to File Pennsylvania Local Taxes

While most people focus on the costs of federal income taxes, state and local taxes can be a significant portion of your annual tax burden. In Pennsylvania, you need to file state income tax along with your federal income tax return, and might even have to file local taxes as ...

How Far Back Can You Amend Tax Returns?

If you have discovered a mistake in a tax return that has already been filed, you can file an amended return, also known as Form 1040X. The Internal Revenue Service allows you to amend a return if your filing status is incorrect, your income is wrong, or you have incorrectly ...

Covered vs. Noncovered Stock Transactions

A broker must report to you and the Internal Revenue Service all taxable sales of stock for the year, so that the IRS can assess capital gains taxes. Brokers report this information on IRS Form 1099-B, Proceeds From Broker and Barter Exchange Transactions. If the stock is ...

Where Do I Put My 1099 Miscellaneous Income on My Tax Return?

If you work for an entity as a non-employee and earn more than $600 in income, you receive an Internal Revenue Service Form 1099-MISC typically by the end of January of the following year. The IRS receives the same information from the entity for which you worked. You report ...

How to Calculate Mileage for a Medical Expense Deduction

To claim mileage as a medical expense, you must use your personal car to get to the place of treatment. You are also required to itemize your deductible expenses on IRS Form 1040, Schedule A. To calculate the amount you are entitled to claim, use the standard mileage rate for ...

If I Didn't File My Taxes Will I Get My Child Tax Benefits?

The IRS allows a wide variety of deductions, exemptions and credits for dependent children. The rules are designed to defray the cost of basic living expenses, education and medical treatment. However, there are conditions attached to these tax benefits, with one of the most ...

IRS Requirements for Receipts

Claiming deductions for things like charitable donations, business expenses, childcare or tuition payments can lower your tax bill and potentially result in a larger refund. If you plan to claim these or other deductions, you'll need to be able to verify your expenses if the ...

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