What Does Meals and Incidentals Mean for Business Travel Expenses?
Understand how meals and incidentals factor into business travel expenses, including reimbursement methods, tracking best practices, and tax considerations.
Accounting Concepts and Practices
How to Know If You Owe Property Taxes and Confirm Your Payments
Learn how to verify property tax obligations, check payment records, and use available resources to ensure your taxes are up to date.
What Is Depreciated Over 15 Years? Key Assets and Tax Implications
Learn which assets depreciate over 15 years, how depreciation affects their tax treatment, and key considerations for basis adjustments and potential recapture.
What Happens If You File State Taxes Late?
Filing state taxes late can lead to penalties, interest, and collection efforts. Learn what to expect and how to minimize potential financial impact.
How Does Green Dot P2P Work for Sending and Receiving Money?
Learn how Green Dot’s P2P service enables seamless money transfers, including registration, funding, transaction times, and potential fees.
How to Fill W7 Form for a Spouse on an H4 Visa
Learn how to accurately complete Form W-7 for a spouse on an H4 visa, including required documents, submission steps, and what to do after approval.
What Does Corpus Mean in a Trust and How Is It Managed?
Understand the role of corpus in a trust, how it is managed by trustees, and its impact on distributions, taxation, and long-term trust administration.
Do I Need a Tax ID Number to Sell Crafts?
Understand when a tax ID is required for selling crafts, how business structure impacts tax obligations, and what factors determine registration needs.
How Do I Know If I Have a 1099 Form? Steps to Check and Verify
Learn how to check if you should receive a 1099 form by reviewing payment types, financial records, and contacting payers to ensure accurate tax reporting.
How to Report a 1099 for a Disregarded Entity LLC
Learn how to correctly report a 1099 for a disregarded entity LLC, including tax responsibilities, filing requirements, and common reporting challenges.
Wells Fargo Escrow Shortage: What It Means and How to Handle It
Learn why your Wells Fargo escrow balance may be short, how it’s calculated, and the options available to manage payments effectively.
Do I Have to Collect Sales Tax for a Hobby?
Understand when hobby income triggers sales tax obligations, key nexus factors, recordkeeping best practices, and potential exemptions.
Is a Phone an Asset or an Expense for Your Business?
Understand whether a phone is an asset or an expense for your business by exploring its classification, depreciation, and impact on financial statements.
Is an Ambulance Bill Considered a Medical Bill?
Understand how ambulance bills are classified, their insurance coverage, tax implications, and what factors affect out-of-pocket costs.
What Does Married One Income Mean for Your Tax Filing Status?
Understand how having a single income in a marriage affects your tax filing status, deductions, and withholdings to make informed financial decisions.
What Can Actors Write Off for Taxes?
Discover common tax deductions for actors, from business expenses to professional development, and learn how to maximize your eligible write-offs.
Do I Have to Pay Tax on My Deceased Husband’s Pension?
Understand how your deceased husband’s pension is taxed, including survivor benefits, withholding rules, and potential deductions that may apply.
How Do I Know If I Am Tax Exempt?
Learn how tax-exempt status applies to organizations and individuals, what documentation is needed, and how to verify and maintain exemption eligibility.
Do I Need to Report Babysitting Income on My Taxes?
Learn when babysitting income needs to be reported, how classification affects taxes, and what records and deductions may apply to your situation.
Material vs Supplies: Key Differences in Accounting and Tax Treatment
Understand the accounting and tax implications of materials vs. supplies, including classification, expense tracking, and recordkeeping requirements.