Guides
How the rules actually work.
In-depth explanations of the questions clients ask us most, checked against the tax code, regulations and IRS guidance. General information — not advice for your situation.
How a 1031 exchange works — and how it can affect your situation
A 1031 exchange lets you sell investment or business real estate and buy more without paying tax on the gain yet. It defers the tax rather than erasing it, and it only works if the rules are followed exactly.
For owners of rental, investment and business real estate.
Read the guide →Capital gains: how timing and character decide the tax
The same dollar of profit can be taxed at 0%, 15%, 20%, 25%, 28% or your ordinary rate, plus 3.8% on top — depending on what you sold, how long you held it, and what else is on your return that year.
For investors, people selling a business asset or property, and anyone planning a large sale.
Read the guide →Sole proprietor, LLC or S corporation: how the choice affects a self-employed person’s taxes
An LLC is a legal wrapper; it doesn’t change your federal tax on its own. An S corporation election does — mainly by splitting your profit into salary and distributions — and it brings costs and rules that decide whether it’s worth it.
For freelancers, consultants and owners of one-person businesses.
Read the guide →Behind on tax returns: what actually happens, and how to catch up
Not filing is usually more expensive than not paying, refunds expire, and the IRS’s clock on your unfiled years never starts. The good news is that catching up is a well-worn path, and the sooner it starts the less it costs.
For anyone with one or more years of unfiled returns — especially the self-employed.
Read the guide →Nonprofit annual filing: which Form 990, when it’s due, and how an organization loses its exemption
Most tax-exempt organizations owe the IRS something every year, even when they owe no tax. The form depends on size, the deadline is the same for nearly everyone, and three missed years in a row cost an organization its exemption automatically — with no appeal.
For the boards, treasurers and staff of small and mid-size tax-exempt organizations, mainly 501(c)(3) charities.
Read the guide →Amending a tax return: when to do it, how far back you can go, and what to expect
An amended return corrects a return you’ve already filed. Whether you need one, and whether a refund is still available, depends on what changed and how much time has passed.
For individuals who’ve found a mistake or a missed form, and business owners whose entity return needs correcting.
Read the guide →Have a question these don't answer?
Book a free 15-minute intro call and we'll help you figure out what applies to your situation.
Let's talk →