Accounting Concepts and Practices

Navigate Illinois’s pay-as-you-go tax system. This guide clarifies how to manage state income tax on earnings not subject to standard withholding.

Selling collectibles involves a unique set of tax rules. Learn how these regulations differ from other investments and what it means for your financial outcome.

Explore the essential tax rules for donor-advised fund giving, from how contributions are valued to the process for correctly claiming your deduction.

Understand how the cost of an income-producing property is systematically recovered as a non-cash tax deduction and the key implications for investors.

Trace the evolution of the lifetime gift tax exemption. Understand the key legislative shifts and policy decisions that define its role in modern estate planning.

Address the tax mismatch in self-rental situations. This election recharacterizes passive rental activity to offset losses against non-passive business income.

This guide explores the AICPA’s ethical framework for maintaining professional objectivity by identifying and managing potential conflicts of interest.

Understand how physical presence in Illinois can create a presumption of tax residency and why proving your domicile is the key to accurate state tax filing.

A stock swap can create complex tax situations for investors. Learn how the specifics of the exchange determine your tax obligations, both now and when you sell.

Explore the mechanics of the generation-skipping tax exemption for strategic wealth transfer and learn how its unique rules impact multi-generational estate plans.

Understand how your economic investment in an S corporation governs the amount of business losses you can deduct on your personal tax return.

Understand when shipping charges are subject to Illinois sales tax. The taxability depends on the structure of the sale and how costs are presented to the customer.

Understand the annual process for your Arkansas vehicle property tax, a key requirement for completing your state car registration renewal.

Explore Iowa’s distinct tax rules for retirement income and Social Security. Understand how these state-specific provisions affect financial planning for retirees.

Understand the logic of the 2023 Form 1040. This guide shows how your financial information translates into your final tax calculation for an accurate return.

Understand the expanded 45Q tax credit after the IRA. This guide clarifies the new framework for valuing and monetizing carbon capture projects.