Accounting Concepts and Practices

Independent contractors often mix up their tax reporting status with their business’s legal structure. This guide clarifies the relationship between the two.

Navigate South Korea’s capital gains tax by understanding how residency, asset type, and holding period intersect to determine your final tax liability.

Move beyond reactive problem-solving with a structured approach to your tax obligations, establishing clear governance and a defensible position.

A CP140 notice is a second IRS request for an unpaid tax balance. This guide helps you interpret the notice and find the correct path to resolve your account.

A Form W-9 provides the necessary taxpayer information for businesses to report payments to the IRS, ensuring compliance and preventing backup withholding.

Navigating a 401k over-contribution requires understanding its tax treatment and the procedures for corrective distributions before and after the annual deadline.

Fine-tune your paycheck withholding by properly accounting for your specific tax circumstances on Form W-4, ensuring greater accuracy year-round.

A bank account levy is a regulated legal process. Learn how it works, which funds are protected by law, and the steps required to claim your exemptions.

Understand how annuity payments factor into your RMDs. The rules for satisfying distributions depend on your annuity’s account type and payout status.

Understand the federal service requirements that determine your eligibility for an employer’s retirement plan and the framework used to measure qualifying work time.

Navigate the tax rules for below-market demand loans. Learn how to use the IRS blended annual rate to correctly calculate and report imputed interest.

Understand the rules for deducting property taxes paid from an escrow account. Learn how to identify the correct amount and navigate important tax limitations.

Understand the criteria for New York tax residency. It involves more than an address, weighing your permanent ties against your physical presence in the state.

Understand the distinction between using HSA funds for COBRA premiums and the separate requirements for making new, tax-advantaged contributions.

Determine your correct HSA contribution limit with partial-year health plan coverage. Explore how eligibility timing creates different calculation options and requirements.

Navigate the IRS guidelines for your Retiree Reimbursement Account. Understand how this employer-funded benefit helps cover your medical costs tax-free.