SECURE Act 401k Withdrawal Rules and Provisions
Understand the updated framework for 401(k)s under the SECURE Acts. Learn how new provisions for accessing funds and distribution timing can affect your account.
Accounting Concepts and Practices
TCJA Bonus Depreciation: Rules and Phase-Out
Navigate the scheduled phase-down of TCJA bonus depreciation. Learn how the changing federal deduction and state tax variations impact your asset planning.
What Is the Corporate Alternative Minimum Tax (CAMT)?
Understand the 15% Corporate AMT, a tax on the book income of large firms that changes how liability is calculated and creates future tax credits.
Is an IRA Considered Part of an Estate?
An IRA is treated differently than other assets after death. Learn how it can pass outside a will while still impacting tax obligations for your estate and heirs.
IRS Step-Up Basis Rules for Inherited Assets
Understand the tax treatment of inherited assets. A basis adjustment at the time of death can reduce the capital gains tax liability for beneficiaries upon sale.
Can I Still Get My 2020 Tax Refund?
Unclaimed 2020 tax refunds are still available for those who haven’t filed. Learn the steps for submitting a past-due return and what can affect your final amount.
Can Self-Employed Individuals Get a Flexible Spending Account?
While an FSA is an employer-based benefit, self-employed individuals have other tax strategies available for managing out-of-pocket medical costs.
What Happens to a 529 if Your Child Joins the Military?
When your child joins the military, their 529 plan has several valuable uses. Understand your options to preserve and repurpose your educational savings.
The SALT Cap Workaround for Pass-Through Entities
Understand the tax strategy allowing pass-through businesses to deduct state taxes without the $10,000 personal limit, providing a valuable federal tax benefit.
List of Non-Refundable Tax Credits to Reduce Your Tax
Learn how non-refundable credits reduce your tax liability dollar-for-dollar and understand the limits on how they are applied to your final tax bill.
What Is Federal Form 5471 and Who Must File?
Understand your IRS reporting obligations as a U.S. person with foreign corporate holdings. This guide clarifies Form 5471’s complex rules and requirements.
ASC 842 Summary: Key Principles of Lease Accounting
Understand the core principles of ASC 842 lease accounting. This summary explains how the standard brings leases onto the balance sheet and affects financial statements.
MACRS Half-Year Convention Depreciation Rate Tables
Reference the official MACRS half-year convention depreciation rates and learn the framework for their correct application in business tax accounting.
What Does S Election Effective Date Mean?
The S election effective date dictates when your new tax status begins. Learn the IRS timing rules to ensure your filing aligns with your intended start date.
California Form 3804: PTE Tax Election Instructions
Understand how a California pass-through entity can elect to pay state tax, which provides a direct tax credit for its owners on their personal returns.
ASC 310-20: Accounting for Loan Fees and Costs
Explore the accounting for loan fees and costs under ASC 310-20, which treats net fees as an integral adjustment to a loan’s effective yield.
Active vs. Material Participation for Rental Property
Understand how your level of involvement in a rental property can change its tax classification and allow you to deduct more losses against your income.
Accounting for Early Termination of Contract
When a contract ends early, specific accounting is required. Learn to correctly derecognize associated balance sheet items and report the resulting financial impact.
What Is Treasury Department Circular No. 230?
Understand Circular 230, the essential regulations from the Treasury Department that define the ethical standards and rules of conduct for tax professionals.
ASC 840: Lease Classification and Accounting Rules
Understand the prior US GAAP standard for leases, detailing the rules that differentiated between on-balance sheet financing and off-balance sheet rentals.