Guides
General explanations of the rules that come up most often. Every piece carries the date it was last reviewed, because tax content goes stale.
Payroll for a one person S corporation
One employee still means real payroll: quarterly returns, an annual return, deposits on a schedule, and a W-2 by 31 January. Each carries its own penalty.
Capital gains, short term and long term, on Schedule D
The holding period is counted from the day after you bought, and one day short moves the whole gain to ordinary rates. The wash sale window is 61 days.
Estimated tax due dates, and the safe harbour that avoids a penalty
The penalty is worked out separately for each period, so paying extra later does not undo an earlier shortfall. Withholding is the exception, and it is useful.
Reasonable compensation for an S corporation owner
The saving that makes an S corporation attractive is the same thing that creates its largest risk. The figure has to be defensible, and documented at the time.
What an extension buys you, and what it does not
Filing late costs ten times what paying late costs. An extension removes the larger penalty entirely and does nothing at all about the smaller one.
The September 15 deadline for extended business returns
The penalty runs per owner per month, up to twelve months, and it applies when the entity owes no tax at all. One missed filing delays every owner.
Reading your K-1, and what to do with it
You are taxed on your share of the profit whether or not any of it was paid out to you. The basis figures decide whether a loss is usable at all.
Depreciation on a rental, and why it matters when you sell
Skipping depreciation does not avoid the bill at sale. Recapture is calculated on what was allowable, not on what you actually claimed, so it is charged anyway.
F-1 to H-1B: the year your status changes
An H-1B carries no exemption from counting days, and the exempt years an F-1 already used stay used. That combination decides the year, not the start date.
Rental property on Schedule E, line by line
Most rental returns go wrong in one place: an improvement entered as a repair. The distinction has a three part test, and it decides the whole year.
Form 8833, and when a treaty position must be disclosed
The penalty for not disclosing a treaty position is charged even when the position was right. Several exceptions cover ordinary student and teacher claims.
Tax treaties: how a treaty position is actually claimed
A treaty never applies automatically. It is claimed on a named article, the conditions have to be met, and it has to be claimed again each year.
What the standard deduction replaced, and when itemising still wins
Two new rules land on charitable giving in 2026, one for itemisers and one for everybody else. Both change the calculation people made last year.
The FICA refund: Form 843 and Form 8316 for students
Social security and Medicare tax is often withheld from students who are exempt from it. The refund is recoverable, and the employer is asked first.
Form 1040-NR: what it is and how it differs from 1040
A 1040-NR taxes US source income, allows no standard deduction, and cannot be filed jointly. The deadline is not always April, and that surprises people.
The home office deduction, and who really qualifies
Exclusive use is the test most claims fail, and employees are out entirely. There is a simplified method, and there is a cost that lands when you sell.
What an ITIN is, and how to apply with Form W-7
An ITIN exists only so a person who cannot get a social security number can file. The application is refused most often on the identity documents.
1099-NEC, 1099-K, and what each one means for your return
The 1099-NEC threshold moved to 2,000 dollars for 2026, after seventy years at 600. Fewer forms will arrive, and the income is reportable either way.
Quarterly estimated payments, and how to size them
Tax on self employment income is due through the year, not with the return. The safe harbour removes the penalty by using a number you already know.
Which expenses a self employed person can actually deduct
The test is not whether an expense was real. It is whether it was ordinary, necessary, and recorded at the time, and whether the personal share was taken out.
Resident, nonresident, or dual status in your first year
Your visa does not decide whether you are a US tax resident. The substantial presence test does, and it can put two people on the same visa on opposite sides.
What a Schedule C actually asks you for
Schedule C reports self employment income and the cost of earning it. What the form asks, which expenses survive, and what it does to the rest of your return.