Reeder’s Digest
Helpful Guides
Our guides are designed to help taxpayers, business owners, and professionals understand how tax returns, deductions, credits, and planning decisions actually work. Each article is written with clarity and depth, grounded in current tax law, and connected to the broader financial picture.
PILLAR POSTS
Pillar GuideHow Form 1040 Tax Returns Work in 2025A comprehensive, line-by-line walkthrough of the federal individual income tax return — from wages and income through deductions, credits, payments, and the final refund or balance due.
Pillar GuideTax Strategy Guides66 in-depth guides covering tax-saving strategies for individuals, life event planning, and business owners — with IRS source citations and actionable steps.
Pillar GuideWhy We Ask for Certain Information for Your Tax Returns20 articles explaining why we ask for each category of information in your tax return organizer — from mailing address and bank details to foreign accounts and expense totals.
Pillar GuideWhen Am I Required to File a Tax Return?Filing requirements for individuals, nonresident aliens, foreign corporations, C corps, S corps, partnerships, estates, and trusts.
Pillar GuideIRS Guides and Publications SummarizedPlain-English summaries of 38 major IRS publications organized by topic — individual returns, business, real estate, retirement, international tax, and compliance.
POPULAR GUIDES
How to Track Your Tax RefundStep-by-step guidance for checking federal and state refund status, common delays, and what to do if your refund is held.
Year-End InformationA comprehensive checklist of information we need from you, important deadlines, fee details, and general tax guidance as the year comes to a close.
How to Calculate Business Expenses for Your Tax ReturnA practical guide to organizing expenses by category, building a clean spreadsheet, and understanding what the IRS actually requires for recordkeeping and substantiation.
Tax Residency Explained: 1040 vs. 1040-NRHow the green card test and substantial presence test determine your filing status, the difference between worldwide and U.S.-source income taxation, and why getting residency right matters.
S Corporation Benefits, Requirements, and ReportingA comprehensive guide to S corporation tax elections, Form 2553 eligibility, the payroll tax benefit, K-1 reporting, basis tracking with Form 7203, and whether an S-Corp is right for your business.
2026 and 2027 Tax Due DatesKey federal, state, and estimated tax deadlines for individual and business filers.
Traditional IRA vs. Roth IRA vs. SEP IRAHow each IRA type works, contribution limits, deduction rules, backdoor Roth issues, the pro rata rule, and tax-efficient strategies for individuals and business owners.
IRS Tax Return Penalties ExplainedHow underpayment, failure-to-pay, and failure-to-file penalties work for Forms 1040, 1120-S, and 1065, including interest rules and why pass-through returns are not penalty-free.
TAX RETURN-RELATED GUIDES
Schedule C ExplainedHow sole proprietors report business income and expenses on their tax return.
How Schedule SE Calculates Self-Employment TaxWhy freelancers and sole proprietors owe an additional tax on net earnings and how it flows into the 1040.
Standard Deduction vs. Itemized DeductionsWhen itemizing makes sense, when the standard deduction wins, and how to evaluate the decision.
How Tax Credits Differ From Tax DeductionsWhy credits often matter more than deductions and how each one reduces your tax bill differently.
Why Freelancers Need Estimated Tax PaymentsHow to avoid a surprise balance due by understanding quarterly estimated tax obligations.
How Social Security Benefits Become TaxableWhy retirees are often surprised by taxes on Social Security and how provisional income determines the outcome.
Common Mistakes on Form 1040The most frequent errors taxpayers make on their returns and how to avoid them.
How Refunds and Balances Due Are DeterminedThe actual mechanics of how the IRS calculates whether you owe or get money back.
1040 Filing ChecklistDocuments taxpayers should gather before filing their federal income tax return.
How Tax Brackets WorkUnderstanding marginal tax rates, effective tax rates, and why moving into a higher bracket doesn’t mean all your income is taxed at that rate.
Cash Basis Reporting and the Foreign Tax CreditHow cash basis accounting works for Schedule C filers, IRS timing rules for income and expenses, and a practical explanation of the foreign tax credit under Publication 514.
How K-1s Work for S Corporations and PartnershipsCapital accounts, inside and outside basis, Form 7203, Form 8582, publicly traded partnerships, and why taxable income usually does not equal cash distributions.
Home Office Deduction for Schedule CExclusive use and principal place of business rules, simplified vs. actual expense methods, depreciation consequences, and common mistakes self-employed taxpayers make.
Schedule C Car Expenses: Mileage vs. Actual CostsStandard mileage rate, actual expense method, depreciation rules, business miles vs. commuting, and recordkeeping requirements for vehicle deductions.
Form 1095-A and Premium Tax Credit RepaymentHow Marketplace health insurance subsidies work, why Form 8962 may require repayment, and common triggers for self-employed taxpayers and mixed-income households.
OTHER HELPFUL GUIDES
Succession Planning: Tax, Accounting, and Entity StructuringStrategies for business owners navigating ownership transitions, buy-sell agreements, and tax-efficient transfer planning.
Form 6166 and Certificates of CoverageTwo essential documents for cross-border tax and social security planning — IRS residency certification for treaty benefits and SSA certificates for totalization agreement relief.
Unemployment Benefits for Models, Stylists, Actors, and Creative TalentHow unemployment benefits, worker misclassification, and employee-vs.-independent-contractor rules affect models and other creative professionals in New York, California, and beyond.
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U.S. Tax Treaties ExplainedHow U.S. tax treaties work, the saving clause, worldwide income rules, and selected treaty comparisons for dividends, interest, and services.
About Form 1042-S and Its ReportingWhat Form 1042-S is, how Code 17 ECI reporting works for modeling agencies, withholding documentation requirements, and how foreign models or loan-out corporations report the income on U.S. returns.
TAX NEWS
April 2026 Federal Tax Guidance RoundupSection 163(j) relief and bonus-depreciation elections, new tip-deduction guidance, proposed withdrawal of basis-shifting disclosure rules, Trump Account regulations, IRS digital tools, FATCA enforcement, remittance tax rules, and what firms and taxpayers should do now.
Micro-Captive Ruling: What NYC Business Owners Should KnowA federal court vacated the IRS’s listed-transaction label for 831(b) micro-captive insurance — what NYC business owners and HNW clients should review now.
IRS Payment Processing Delays After April 15, 2026What NYC filers should do if a payment cleared the bank but the IRS has not yet posted it — documenting timely payment and responding to a CP14 without paying twice.
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