Updated for tax year 2025 If making money with minimal effort is a dream of yours, passive income just might […] The post How to Earn Passive Income and What It Means for Your Taxes appeared first on .

The new data disclosures will draw significant attention in 2026 and beyond. However, because the data is rooted in financial accounting concepts, affected by timing issues, and shaped by inconsistent reporting regimes, it is poorly suited for drawing strong conclusions about tax policy or corporate behavior.

It is good to see senators talking about the Social Security crisis that is rapidly unfolding. But any serious proposal has to grapple with the trade-offs of different reforms and accept that the fix will come from both sides of the ledger: taxes and expenditures.

With nearly 2 million US jobs tied to trade with Canada and Mexico, stalling renewal — or withdrawing outright — would compound tariff uncertainty at exactly the wrong time.

Voters beware: lower property taxes may sound good, but they come with significant trade-offs.

With a new tax season comes a new set of effective tax rates, standard deduction dollar amounts, and more minor changes from the Internal Revenue Service for 2025, keeping abreast of these adjustments is essential for maximizing potential refunds and minimizing liabilities. In 2025, taxpayers will encounter new standard deduction amounts, evolving individual income [...]

The 1242 IRS usually appears when the Internal Revenue Service pauses processing your income tax return for additional review. While this doesn't necessarily indicate an error, it often means the IRS needs to verify certain information before issuing your refund. Reference 1242 may appear due to concerns about your income tax credit claims, inconsistencies [...]

If you’ve received a notice from the Texas Comptroller’s Office regarding a penalty for failure to file or pay your tax report on time, know that you’re not alone. Many Texas taxpayers face late filing penalties or missed payments. Fortunately, the state offers relief through payment plans or payment penalty waivers, and Form 89-224 [...]

Receiving a letter from the IRS, such as Notice CP215, can be unsettling, especially because it involves penalties. This notice, also known as a Notice of Civil Penalty Charge, means that the IRS has determined that you may owe a civil penalty, often due to issues like outstanding returns or ongoing compliance problems. Whether [...]

Not paying taxes can lead to a series of escalating consequences that go far beyond the simple financial burden. First, you may be subject to a failure to file penalty, which can be as much as 5% of your unpaid taxes for each month your return is late. The failure to pay penalty also [...]

Key Risks for Washington Traders Possible Washington B&O tax on realized trading gains. Potential inability to offset realized trading losses. No trader-specific DOR safe harbor or formal guidance. Broad statutory definition of “investments” under RCW 82.04.4281 potentially reaching many financial instruments. No formal incorporation of federal Trader Tax Status (TTS) or Section 475 MTM rules […]

Options trading offers flexibility and leverage, but the tax rules are complex and frequently misapplied. Traders who do not understand these rules risk overstating losses, understating income, or both — often relying too heavily on incomplete broker reporting. This guide explains how options are taxed in 2026, focusing on classification, trade-level mechanics, anti-abuse rules, and […]

Accurate tax reporting is one of the most overlooked opportunities for active traders to optimize tax results. While compliance matters, the real value of proper reporting lies in unlocking tax savings through Trader Tax Status (TTS), Section 475 mark-to-market (MTM), Qualified Business Income (QBI), the SALT cap workaround, and favorable tax treatment for different trading […]

Get ready for year-end with proactive tax planning for traders. The One Big Beautiful Bill Act (OBBBA) made many TCJA provisions permanent and extended valuable deductions for traders. Smart timing of income, PTET payments, and S-Corp benefits before December 31 can lower your 2025 tax bill and set you up for success in 2026. Overview […]

A question we often hear from people who have worked or are working overseas in the Australian Defence Force is: Am I eligible to receive an overseas forces tax offset when lodging my tax return? The answer is YES as long as you meet certain criteria. How can I claim the overseas forces tax offset? […] The post Overseas Forces Tax Offset: Are you claiming yours? appeared first on Etax - Your Tax Return Online.

Your employer sets aside a portion of your income as superannuation, for you to access when you retire. Strict superannuation rules and mandatory fund contributions have put Australians’ retirement savings ahead of people in many other countries that have no required retirement contributions. Superannuation is fairly straightforward for most of us who earn a wage […] The post What do I need to know about Superannuation rules? appeared first on Etax - Your Tax Return Online.

Australia’s favourite online tax return has many new features and improvements. What’s New? We’ve made many new updates this year. Here are four we think you’ll really like: Can I start now? Yes! The 2026 online tax return is live. But don’t worry, you can enter all of your details now and finish your 2025 […] The post Australia’s Favourite Online Tax Return is Faster & Easier Than Ever! appeared first on Etax - Your Tax Return Online.

A simple guide to getting your Airtasker taxes right Airtasker has changed the way many people earn an income. Whether you’re already doing tasks or you’re ready to get started, there are some important tax implications you need to know. The big message here is: Airtasker tax evasion is “on the radar” over at the […] The post Airtasker tax guide: Tax FAQs for your Airtasker work appeared first on Etax - Your Tax Return Online.