Determining Cost Basis on an Inheritance. Generally, when property or other assets are inherited, the cost basis is usually equal to the fair market value...

Here are brief descriptions for the type of income reported in each Form 1099-MISC box. Box 1: This box is used to report rental income of $600 or more fo...

Both countries allow dual citizenship and US citizens who are granted British Citizenship will automatically have their dual citizenship status recognized...

The IRS requires you to prepare Form 8889 and attach it to your tax return when you take a distribution from an HSA. However, if your 1099-SA indicates yo...

The No. 1 thing to keep in mind is that putting money down on a lease doesn’t lower the overall cost and save you money in a long run like it does with a ...

A Special Disability Trust (SDT) is a special type of trust that allows parents and immediate family members to plan for current and future needs of a per...

The TCJA was vague on the applicability of changes to estates and trusts but the IRS just released Notice 2018-61 to provide some clarification and state ...

In personal calls, it’s sufficient to begin with a “Hello?” and let the caller introduce themselves first. However, you want to allow the caller to know i...

The court may also issue an order requiring the working spouse to pay the unemployed spouse temporary support for any necessary expenses. At the terminati...

Unless your employer has a contractual right to do this (which is unlikely), your employer cannot change your role from a part-time to a full-time role wi...