Blog Posts
Retirement Savings Contributions Credit (Saver’s Credit)
Concise Takeaway The Saver’s Credit is a nonrefundable credit for eligible taxpayers who make qualified retirement contributions. The credit rate is 50%, 20%, or 10%, depending on AGI and filing status, and applies to up to $2,000 of contributions ($4,000 MFJ). What...
Outside Basis and Partnership Liabilities
A partner’s outside basis is the tax basis in their partnership interest. It begins with the...
Transactions Between a Partnership and Its Partners
Partnerships are flow‑through entities, but certain transactions between a partnership and a...
Partnership Return (Form 1065)
Form 1065 is the information return used by partnerships to report income, deductions, credits,...
Forming a Partnership: Tax Rules, Classification, and Special Situations
A partnership exists when two or more persons carry on a trade or business and share profits,...
S Corporations: Structure, Reporting, Elections, and Tax Rules
An S corporation is a domestic corporation that elects to be taxed as a pass‑through entity. Under...
Stock Redemptions and Liquidating Distributions
A stock redemption occurs when a corporation acquires its own shares from a shareholder in...
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