Resources
Tax & Business Insights
Practical tax, bookkeeping, payroll, and small business guidance from the SK Financial team.
What is the meaning of Foreign Earned Income Exclusion: What you need to know
For the tax year 2026, the Foreign Earned Income Exclusion limit is $132,900, per qualifying taxpayer. Explore the benefits of the foreign housing exclusion or Deduction.
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Form 1098: Statement of Mortgage Interest and How to File It
Form 1098 shows the mortgage interest you paid to your lender, which may help you get a tax deduction. Learn how it works and how it affects your taxes.
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What Is IRS Form 720? Quarterly Federal Excise Tax Return
Form 720, called the Quarterly Federal Excise Tax Return, is used to report and pay federal excise taxes. These taxes are on specific goods and services, not regular income or payroll.
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What Is the IRS Form 8880? How to Fill Out Form 8880
Form 8880 allows you to claim the Saver’s Credit, a tax benefit designed to encourage low- to moderate-income taxpayers to contribute to retirement accounts.
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What is the Gift Tax limit for 2025-2026?
Gift tax limit for 2026 is $20,000 per person per year. This means you can give up to $20,000 to as many individuals as you want without filing a gift tax return.
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Head of Household: Head of household Requirements
To qualify, you need to meet head-of-household requirements: you must be unmarried, You Must Pay More Than Half the Household Costs, and You Must Have a Qualifying Person Living With You
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How much does Health Insurance Cost?
Health insurance costs are not just about the monthly amount you pay to keep your plan active. Individual plans can range from $300 to $600 per month, while family plans can go well beyond $1,500 per month.
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High-Income Tax Planning Strategies
High-income tax planning is the process of organizing your income, investments, business structure, and deductions in a way that legally reduces your tax liability.
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What is a Rebate? Home Energy Rebate Program in Florida, United States
Florida's Home Energy Rebate Programs, offer incentives ranging from $2,000 to $14,000 for energy-efficient home upgrades and reducing costs
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How Do Tax Deductions Work? The Complete Guideline
A tax deduction is basically a reduction in your taxable income. if you earned $60,000 and qualify for $10,000 in deductions, you are only taxed on $50,000.
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How Incorporation Works: Its Advantages and Disadvantages
Incorporation offers legal protection, tax benefits, and credibility for your business. Learn how incorporation works, its advantages and disadvantages
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How to issue a 1099? Common Mistakes to Avoid
Not every payment requires a 1099. Learn when you don’t need to issue one, including credit card payments, third-party platforms, corporations, and goods-only purchases.
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