Post 1986 Depreciation Adjustment on Form 1120S: What S Corporations Need to Know
Understand how S corporations handle post-1986 depreciation adjustments on Form 1120S with practical guidance for accurate tax reporting.
Accounting Concepts and Practices
Airbnb LLC Tax Benefits and Deductions for Short-Term Rental Owners
Explore how forming an LLC can impact taxes for short-term rental hosts, including deductions, filing nuances, and classification choices.
IRS First Time Penalty Abatement Letter: How to Qualify and Submit
Learn how to request IRS penalty relief with a clear, well-documented letter that meets eligibility and submission requirements.
Fair Value Adjustment Journal Entry: Steps and Financial Statement Impact
Learn how fair value adjustments affect financial reporting through calculation methods, journal entries, and disclosure practices.
How to Record Dividends Declared and Paid in Accounting
Learn how to accurately record dividends in accounting, from declaration to payment, and understand their impact on financial statements.
How Much Is $20 an Hour After Taxes? Calculating Your Take-Home Pay
Understand how $20 an hour translates to real take-home pay by exploring tax impacts, deductions, and practical income scenarios.
Cutoff Assertion in Auditing: Key Transactions, Risks, and Auditor Duties
Explore how auditors assess cutoff assertions to ensure accurate timing of transactions and maintain integrity in financial reporting.
Accounting for Sales Tax Paid on Purchases: Reporting and Reconciliation
Learn how to accurately track, report, and reconcile sales tax on purchases to ensure compliance and improve financial clarity.
Financial Ratios Cheat Sheet: Key Formulas and How to Use Them
Understand how financial ratios offer insights into business performance, helping you analyze operations, stability, and long-term value.
Can I Delete My Tax Return and Start Again on H&R Block?
Learn how to delete or amend your tax return on H&R Block, understand potential implications, and ensure your final submission is accurate.
Can I Use My 401(k) for Dental Implants?
Explore the rules, tax implications, and requirements for using your 401(k) to cover dental implant costs, including withdrawal and loan options.
What Is Form 502UP and Who Needs to File It?
Learn about Form 502UP, its filing requirements, payment deadlines, and how to avoid penalties for underpayment of estimated taxes.
Sorry, Something You Entered Does Not Match Our Records. What to Do?
Encountering a “does not match our records” error? Learn common causes, how to resolve them, and steps to prevent future login issues.
Can a Single-Member LLC Make a 754 Election?
Learn whether a single-member LLC can make a 754 election, how entity classification affects eligibility, and the steps required for a valid election.
Are Shareholders Considered Self-Employed in an S Corporation?
Understand how S corporation shareholders are classified for tax purposes, including their earnings, tax obligations, and the impact on self-employment status.
Arizona Form 309 Instructions: What You Need to Know
Learn how to accurately complete Arizona Form 309, including key requirements, calculations, and filing methods to ensure compliance with state tax laws.
Can a Non-U.S. Citizen Claim the Child Tax Credit?
Learn how residency status, income limits, and documentation affect a non-U.S. citizen’s eligibility for the Child Tax Credit.
Can You Get a Tax Credit for Adding Solar Panels to an Existing System?
Learn how tax credits apply when adding solar panels to an existing system, including eligibility rules, qualified costs, and key documentation requirements.
Can a Power of Attorney Be Signed Electronically?
Learn how electronic signatures apply to powers of attorney, including legal requirements, enforcement considerations, and acceptance by institutions.
Do I Need a California Payment Voucher to Paper File My Taxes?
Learn when a California payment voucher is necessary for paper filing, how to complete it correctly, and the steps to ensure your payment is properly credited.