How to Optimize Schedule A: Maximizing Your Itemized Tax Deductions (2026)
08/06/2026
Written by the Ourtaxpartner.com Editorial Team | Fact-Checked & Verified | Last Updated: August 2026 | Applies to Tax Year 2026 ⚡ Executive Summary: Schedule A Changes for 2026 The 2026 tax year introduces a massive shift as the Tax Cuts and Jobs Act (TCJA) provisions expire, lowering the standard deduction and making Schedule A
FHA vs. VA vs. USDA vs. Conventional: A Homeowner’s Guide to Mortgage Types & Tax Benefits
08/06/2026
Written by the Ourtaxpartner.com Editorial Team | Fact-Checked & Verified | Last Updated: August 2026 | Applies to Tax Year 2026 ⚡ Executive Summary: Mortgage Tax Benefits for 2026 The 2026 tax year brings major changes to homeownership deductions, making the difference between mortgage loan types more critical than ever for your tax strategy. The
PMI Is Tax-Deductible Again: The Restored Mortgage Insurance Deduction (2026)
08/06/2026
Written by the Ourtaxpartner.com Editorial Team | Fact-Checked & Verified | Last Updated: August 2026 | Applies to Tax Year 2026 ⚡ Executive Summary: The 2026 PMI Deduction Restoration OBBBA Section 70108 permanently restores the mortgage insurance deduction starting January 1, 2026. The deduction phases out rapidly for taxpayers with an Adjusted Gross Income (AGI)
New 2026 Gambling Tax Law: The 90% Loss Rule & Fair Bet Act
08/05/2026
Written by the Ourtaxpartner.com Editorial Team | Fact-Checked & Verified | Last Updated: August 2026 | Applies to Tax Year 2026 ⚡ Executive Summary: 2026 Gambling Tax Changes The new gambling tax law 2026 limits all loss deductions to just 90% of your total losses, up to the amount of your winnings. Break-even gamblers now
The Ultimate Guide to the Dependent Care FSA 2026 Limit Increase
08/05/2026
Written by the Ourtaxpartner.com Editorial Team | Fact-Checked & Verified | Last Updated: August 2026 | Applies to Tax Year 2026 ⚡ Executive Summary: 2026 FSA Updates The dependent care FSA 2026 limit has officially increased to $7,500 per household, marking the first permanent raise since 1986. Married taxpayers filing separately are strictly capped at
IRS Form 1120-SF Guide: Settlement Fund Tax Return
08/04/2026
1. Introduction – What is Form 1120-SF? IRS Form 1120-SF, officially titled “U.S. Income Tax Return for Settlement Funds (Under Section 468B),” is a specialized federal corporate tax return. The Internal Revenue Service (IRS) governs this form under Section 468B of the Internal Revenue Code and Treasury Regulations Section 1.468B-2. In class action lawsuits, mass
IRS Form 1120-S Guide: S Corporation Tax Return Rules
08/04/2026
1. Introduction – What is Form 1120-S? IRS Form 1120-S, officially titled “U.S. Income Tax Return for an S Corporation,” is an annual federal information tax return. The Internal Revenue Service (IRS) governs this form under Subchapter S (Sections 1361 through 1379) of the Internal Revenue Code. An S-corporation is a specialized corporate tax structure
Form 1120-S Schedule B-1 Guide: S-Corp Shareholder Rules
08/04/2026
1. Introduction – What is Form 1120-S (Schedule B-1)? IRS Form 1120-S (Schedule B-1), officially titled “Information on Certain Shareholders Owning Stock of the Corporation,” is an S-corporation ownership disclosure schedule. The Internal Revenue Service (IRS) governs this schedule under Subchapter S and Sections 6001 and 6037 of the Internal Revenue Code. Schedule B-1 (Form
IRS Form 1120-RIC Guide: Regulated Investment Companies
08/04/2026
1. Introduction – What is Form 1120-RIC? IRS Form 1120-RIC, officially titled “U.S. Income Tax Return for Regulated Investment Companies,” is a specialized corporate federal tax return. The Internal Revenue Service (IRS) governs this form under Subchapter M, Part I (Sections 851 through 855) of the Internal Revenue Code. A Regulated Investment Company (RIC) is
IRS Form 1120-REIT Guide: Real Estate Investment Trusts
08/04/2026
1. Introduction – What is Form 1120-REIT? IRS Form 1120-REIT, officially titled “U.S. Income Tax Return for Real Estate Investment Trusts,” is a specialized federal corporate tax return. The Internal Revenue Service (IRS) governs this form under Subchapter M, Part II (Sections 856 through 860) of the Internal Revenue Code. A Real Estate Investment Trust