If you own rental property, you may have heard that you’re not required to file Form 1099-NEC for contractors, such as plumbers or handymen. While that’s often true, choosing not to file could be costing you valuable tax savings.

Could you use a quick infusion of tax-free cash? Your life insurance policy may provide one. And you don’t have to die to collect.

If you are required to take minimum distributions from your traditional IRA and are charitably inclined, you might benefit from a qualified charitable distribution (QCD).

Losses due to scams that rely on the victim’s greed are deductible. Losses from scams that count on the victim’s love or desire to help others are not deductible.

When it comes to IRS audits, one of the most common reasons taxpayers lose deductions is the lack of proper documentation.

If you’re making quarterly estimated tax payments, missing a deadline can be costly. The IRS currently charges a 7 percent penalty for underpayments—and since penalties aren’t deductible, the real cost can feel closer to 11 percent. But here’s good news: strategic withholding can often help you avoid or erase those penalties—even late in the year.