Accounting Concepts and Practices

The tax on IRA withdrawals is based on your ordinary income rate, not a fixed percentage. Learn how the type of IRA and timing affect your tax liability.

A clear guide to the NJ Senior Freeze. Understand how the property tax reimbursement works and follow the process for establishing and maintaining your benefit.

Navigate your federal tax deposit responsibilities. This guide clarifies the process for determining your payment schedule to ensure timely and accurate compliance.

Withdrawing from your 401k after 65 means treating that money as income. Learn how these distributions are taxed and how they fit into your broader financial plan.

Clarify your filing obligation for the Portland Art Tax. This guide details the specific residency, income, and household exemption requirements.

Learn how to use payroll deductions for charitable giving and ensure you have the correct documentation to substantiate your contribution on your tax return.

Understand when business real property upgrades qualify for the Section 179 deduction. This guide covers the specific eligibility rules for improvements.

Understand the financial mechanics of using IRA funds for charity before age 70 1/2. This process has distinct tax rules affecting your income and deductions.

Converting from an S corp to a C corp has significant operational and tax effects. Learn the key considerations and procedural steps for a successful transition.

Leaving California involves more than a change of address. Explore the financial considerations and legal ties that define your ongoing tax status with the state.

An overview of the OECD’s global minimum tax, explaining its jurisdictional calculation framework and the interlocking rules that secure a 15% effective tax rate.

Retirement distributions are taxed differently than wages. Learn how tax law applies to your pension to help manage your financial obligations.

Explore the tax strategies available when you sell your home. Learn the critical rules that determine if your profit is taxed now, later, or not at all.

Learn the specific state requirements for gifting a car in Florida to avoid sales tax, and understand how the process differs from federal gift tax rules.

Understand the firm deadline for making a prior-year IRA contribution and the specific steps required to ensure it’s applied to the correct tax year.

Learn the legal significance of signing your tax return. This guide covers the IRS’s framework for addressing inaccuracies, from simple errors to willful falsehoods.

Dependent Care FSA elections are usually fixed for the year. Learn about the specific life events that allow you to modify your contribution and the required steps.