Accounting Concepts and Practices

Determine whether Schedule C or Form 1065 is the right tax filing option for your two-owner business by understanding key requirements and allocation rules.

Understand how taxes apply to part-time income, including withholding, deductions, and filing requirements, to better manage your earnings.

Understand how Mexico taxes retirement income, including key rules for residents, foreign pensions, and reporting requirements to stay compliant.

Understand the rules for deducting nonprofit meal expenses, including documentation requirements, reimbursements, and proper expense allocation.

Learn how Rhode Island and Massachusetts handle state income taxes for cross-border workers, including withholding rules, filing requirements, and tax credits.

Learn how Social Security schedules payments, why delays may happen, and how retroactive benefits, overpayments, and underpayments are managed.

Learn how a work permit affects your tax status and whether it makes you a resident alien for tax purposes, plus key factors that influence your classification.

Understand how living in South Carolina and working in North Carolina affects your state taxes, including residency, income allocation, and tax credits.

Understand why local and state wages may differ on your pay stub and how factors like residency and work locations impact tax reporting and payroll details.

Learn how to correct excess 401(k) contributions with Fidelity, understand tax implications, and ensure accurate reporting for future compliance.

Learn how to accurately report GBTC gains and losses, choose the right cost basis method, and understand tax implications for better compliance.

Learn how New Jersey’s underpayment penalty works, factors that influence it, and steps to minimize or avoid additional tax liabilities.

Understand the tax implications of selling a vacation rental, including depreciation recapture, capital gains treatment, and key documentation requirements.

Understand key factors in securing and repaying an S Corp business loan, including lender requirements, tax implications, and corporate recordkeeping.

Understand what a green balance means in the Georgia Tax Center, how it relates to payments and refunds, and steps to ensure your account is accurate.

Receiving an unexpected IRS bill after paying taxes can be confusing. Learn common reasons for discrepancies and steps to resolve them efficiently.

Learn how to accurately report wages on Schedule C, differentiate employee pay from owner compensation, and ensure compliance with tax and recordkeeping rules.

Learn how Ohio and Pennsylvania’s tax reciprocity agreement affects withholding, filing requirements, and local taxes for residents working across state lines.

Understand how the $10,000 SALT deduction limit affects your tax filing, particularly in high-tax states, and explore strategies for managing deductions.

Learn how to accurately file Arizona Form 140PY as a partial-year resident, including income allocation, deductions, and key filing requirements.