The term tax write-off is another way of saying “tax deduction.” The phrase typically is used to refer to self-employment and small-business–related tax deductions, though...
Abby Eisenkraft, EA
Articles by this author
Is Overtime Pay Taxed More?
You may have heard that the tax rules regarding overtime pay are changing—but taxation of overtime earnings is not ending entirely. Historically, overtime pay has...
What Is OASDI Tax?
You may have noticed the acronym OASDI on your paycheck—especially when you realize that it is taking a big chunk out of your earnings. But...
Why Is Receiving a Large Tax Refund a Bad Thing?
Did you get a big tax refund last year…or were you left wondering, Why is my federal refund so low? The average tax refund has...
What Does Head of Household Mean on Taxes?
“Head of household” is a tax filing status for single taxpayers who have dependents. But as so often is the case with tax matters, it’s...
What Is Backup Withholding?
If your broker sent you a dividend or interest check, but the amount you received is 24% lower than expected, then “backup withholding” likely is...
1031 Exchange Rules You Should Know
If you plan to part with a piece of investment real estate, you might be able to postpone paying capital gains taxes by using a...
Are You at Risk for an IRS Audit?
Not long ago there were widespread warnings that the IRS would be adding thousands of agents and increasing audits. But the new year brought a...
Qualified Business Income Deduction: What You Should Know
The Qualified Business Income deduction (QBI deduction, for short) is a wonderful tax break for people who are self-employed and for small business owners. Also...
Does Your Child Need to File Taxes This Year?
Too young to vote doesn’t necessarily mean too young to file a tax return. In fact, minors who have significant income often are required to...
Taxes for People Who Are New to the US
Most Americans agree that the US tax code is too complicated. It can be even more impenetrable for taxpayers who are new to the country,...
What Is Nontaxable Income?
Who wouldn’t love to avoid paying tax on their income? Well, in some cases, you can. Here’s what you need to know about when you...
