Accounting Concepts and Practices

Understand the IRS rules for your Health Savings Account to ensure your contributions and distributions are compliant and properly substantiated.

Moving funds into an HSA requires navigating specific rules and reporting. Understand how to complete a transfer correctly to protect its tax-free status.

Understand the full picture of taxes on minimum wage. Learn how various tax rules interact to determine your actual take-home pay and your potential for a refund.

Understand the layered tax regulations that determine if your Schedule F farm loss is fully deductible against other income.

This guide clarifies the direct calculation method for your federal income tax when the standard IRS tax tables do not apply to your filing situation.

Filing an amended return requires a specific process. This guide provides clear steps for submitting Form 1040-X to ensure it’s accepted by the IRS.

Understand the tax process for dissolving a partnership, from reconciling the entity’s final accounts to the reporting requirements for individual partners.

The QBI deduction has several limiting factors beyond the 20% rule. Understand how your income and the nature of your business affect your final deduction.

Selling precious metals has unique tax considerations that differ from other investments. Learn the specific rules to accurately report gains and manage your tax liability.

Deducting interest paid to the IRS is not always possible, but the source of the income that led to the tax bill determines your eligibility.

Clarify the key differences between a routine distribution and a partial termination to ensure proper vesting calculations and maintain plan compliance.

Properly notifying employees of a reduction in future retirement benefits involves specific legal steps. Learn how to ensure compliance and avoid costly tax penalties.

Understand Minnesota’s employee withholding certificate, Form W-4MN, to ensure the correct amount of state income tax is deducted from your paycheck.

Review the fundamental tax timing principles for capitalizing and amortizing policy acquisition costs, a key adjustment for insurance company income tax.

The Opportunity Zone program’s end is not a single date but a phased timeline. Understand how these layered deadlines impact investor tax benefits and strategy.

The IRS session method provides a clear framework for calculating net gambling results, helping you maintain accurate records and ensure proper tax compliance.

Not all stock transfers are treated equally by the IRS. Understand the critical factors that determine if moving your shares results in a tax liability.

Explore how IRC 761 classifies unincorporated groups for tax purposes and the specific requirements for electing out of default partnership treatment.