What Is Self-Employment Tax?
Surprised by your first 1099 tax bill? An EA explains why self-employed workers owe 15.3% — and how to deduct half.
Tax Basics
Tax Basics
Simple explanations of core tax concepts like taxable income, AGI, and deductions. Designed for beginners who want to understand how U.S. taxes work.
Tax Basics
What Is Tax-Exempt Income?
Tax-exempt income is excluded from federal gross income. Learn what qualifies, how it differs from tax-deferred, and why it can still affect your MAGI.
Tax Basics
What Is the Saver’s Credit?
Learn how the Saver’s Credit works, who qualifies, current income limits, and why this retirement tax credit is worth claiming.
Tax Basics
What Is Earned Income?
Earned income is pay from work — wages, tips, and self-employment profit. Learn what counts and why it matters for the EIC and IRA.
Tax Basics
What Is a Backdoor Roth IRA?
Learn how a Backdoor Roth IRA works, how the Pro-Rata Rule affects your taxes, and why Form 8606 is essential — explained by an Enrolled Agent.
Tax Basics
Traditional IRA vs. Roth IRA — What’s the Difference?
Traditional IRA vs. Roth IRA — tax treatment, contribution limits, RMD rules, and income phase-outs explained by an Enrolled Agent.
Tax Basics
AOTC vs. LLC — Education Credits Explained
Learn how the AOTC and Lifetime Learning Credit work, who qualifies, and how to choose the right education tax credit.
Tax Basics
What Is a Trump Account?
A Trump Account (IRC §530A) is a tax-deferred investment account for children under 18 created by the OBBBA, with a $1,000 federal seed and $5,000 annual limit.
Tax Basics
What Is the Kiddie Tax?
The kiddie tax applies the parent’s tax rate to a child’s unearned income above $2,700. Learn who it affects, how it works, and how to file.
Tax Basics
What Is Unearned Income?
Learn what unearned income is, how the IRS taxes it, and how it differs from earned income — including NIIT, Kiddie Tax, and key rules.