Blog Posts
Excess Social Security and Tier 1 RRTA Tax Withheld
Concise Takeaway When a taxpayer has too much Social Security or Tier 1 RRTA tax withheld, the excess is refundable. The refund process depends on whether the taxpayer had multiple employers or one employer who withheld too much. When Excess Withholding Occurs Most...
Rental Income and Expenses
Rental income is generally taxable, and allowable rental expenses reduce that income. The result...
Social Security Benefits
A portion of Social Security benefits becomes taxable when a taxpayer’s provisional income exceeds...
IRAs, Retirement Plans, Pensions, and Annuities
Distributions from retirement accounts are generally taxable except for the portion representing...
Dividends and Other Corporate Distributions
A corporation may distribute property to its shareholders. When the distribution is paid from...
Interest Income
Interest is compensation for the use of money. It is generally earned from deposit accounts,...
Special Rules for Certain Employees
Some occupations have unique income rules that differ from standard wage reporting. These rules...
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