Barbara Weltman

All businesses need to protect themselves against financial risk, and that’s where insurance comes into the mix. But, businesses don’t always have to purchase insurance from another company. With captive insurance, a business can provide its own coverage, offering better protection […]

The word “audit” can make anyone break out in a sweat, but understanding what it is and how the Internal Revenue Service (IRS) works may make you more comfortable. Some audits are no big deal; some can be onerous. Once

When you sell or exchange capital assets like stocks, bonds, real estate, or artwork, you must report these transactions on your federal income tax return. IRS Form 8949 is crucial in reconciling the information reported on Forms 1099-B or 1099-S

If you receive Social Security benefits, you may be wondering how much of it is taxable. Depending on the amount of your Social Security benefits and other income, up to 85% of your benefits are taxable. It all depends on

What Is Form 990: Return of Organization Exempt From Income Tax? Even organizations exempt from paying federal income tax must report their activities annually to the Internal Revenue Service (IRS). This requirement is outlined in the Internal Revenue Code (IRC).

Tax exemptions reduce or eliminate a portion of your income from taxation, lowering the income you owe taxes on. Federal, state, and local governments create tax exemptions to benefit individuals, businesses, and organizations in specific circumstances. Taxpayers who qualify for

Long-Term Capital Gains Tax Rates for 2025 Filing Status 0% 15% 20% Single Up to $48,350 $48,350 to $533,400 Over $533,400 Head of household Up to $64,750 $64,750 to $566,700 Over $566,700 Married filing jointly or surviving spouse Up to $96,700 $96,700

The rules governing the inheritance of an individual retirement account (IRA) when the IRA owner dies are complicated, but at least one aspect is straightforward: Whether a spouse or non-spouse is named the beneficiary of the account when the IRA

IRS Form 5498: IRA Contribution Information is a tax form to report Individual Retirement Account(IRA) account details to the Internal Revenue Service (IRS). Your IRA custodian or trustee sends this form to the IRS and you. The document is for

If you need someone to interface with the Internal Revenue Service (IRS) on your behalf, you’ll need to formally authorize them. This is where Form 2848: Power of Attorney and Declaration of Representative comes into play. By signing this form,