Accounting Concepts and Practices

Your business structure, not your number of employees, often determines if you need an EIN. Learn the specific tax and banking rules for your business type.

This guide clarifies how the U.S.-Germany tax treaty coordinates tax obligations for individuals with financial interests in both nations.

Understand the essential IRS framework for holding real estate within a self-directed IRA to ensure your investment remains compliant and tax-advantaged.

Discover the U.S. tax compliance framework for selling foreign real estate, from converting transaction details into USD to coordinating with foreign tax payments.

A corporation can pay for medical expenses, but doing so tax-free requires a formal plan, specific documentation, and careful administration.

When a W-2 or 1099-R is missing or incorrect, Form 4852 allows you to file a timely return by using your own records to estimate your income.

Section 72(t) provides a structured way to access retirement funds early, but it requires strict adherence to a rigid payment plan to avoid costly penalties.

Navigating the QBID requires choosing the correct tax form. Learn how your taxable income and business activities dictate your specific filing path for this deduction.

Your final tax bill in retirement is shaped by how different income sources are assessed and combined. Learn the structured process for an accurate calculation.

Understand the U.S. gift tax system. This guide explains how federal rules allow for significant tax-free giving and clarifies the process for reporting large transfers.

Understand the relationship between your business profit calculation and your main tax return. See how one form feeds into the other to determine your final tax.

Demystify your W-2 by understanding how FICA payroll deductions are calculated and why the wage amounts for income, SS, and Medicare taxes may differ.

Understand your hedge fund K-1. This guide explains how partnership income, gains, and other unique tax items are reported and affect your personal return.

Gain insight into the IRS’s internal standards for penalty forgiveness. This guide explains the criteria agents use to evaluate a taxpayer’s request for abatement.

Using a Dependent Care FSA for a babysitter is possible. Reimbursement depends on key IRS rules for your work, your dependent, and your chosen care provider.

Learn how employees can reverse automatic retirement contributions and withdraw funds without the typical 10% early distribution penalty.