Can I Use More Than $3,000 Capital Loss Carryover on My Taxes?
Learn how capital loss carryovers work, including annual limits, offsetting gains, and how excess losses can be applied in future tax years.
Accounting Concepts and Practices
1120 Schedule G Instructions: Reporting Ownership Shares for C-Corps
Learn how to accurately report ownership interests on Schedule G for Form 1120, including filing requirements, disclosure details, and IRS considerations.
Are Land Improvements Depreciated Over 15 Years?
Understand how land improvements are classified for depreciation, the applicable recovery periods, and key factors in allocating costs for tax purposes.
Are 529 Contributions Tax Deductible in PA?
Learn how Pennsylvania treats 529 plan contributions for tax purposes, who can claim deductions, and how to report them correctly on your state return.
529 Rollover Rules IRS: What You Need to Know for Tax Compliance
Understand IRS rules for 529 rollovers, including eligibility, tax implications, and reporting requirements to ensure compliance and avoid penalties.
Are Condos Considered Multi-Family Properties?
Explore whether condos are classified as multi-family properties by examining their legal status, financing considerations, tax implications, and ownership structure.
What Does a 971 Notice Issued With 0.00 Mean for Your Tax Refund?
Learn what a 971 notice with a 0.00 amount means for your tax account, how it may affect your refund, and what steps to take for clarification.
What Items Are Not Included as a Payroll Deduction?
Understand which payments and benefits fall outside standard payroll deductions and why they are handled separately from taxable wages.
What Is AZ SBI and How Does It Impact Small Business Taxes?
Learn how Arizona’s Small Business Income (SBI) tax affects your business, including eligibility, filing steps, deductions, and personal tax implications.
How to Properly File the 540X Form for Amended Tax Returns
Learn how to accurately file Form 540X for amended tax returns, including key steps, required documents, and potential outcomes of making corrections.
What Does 1099-R Box 7 Code 2 Mean for Your Taxes?
Understand how a 1099-R Box 7 Code 2 affects your tax filing, including penalty exceptions, reporting requirements, and steps for addressing discrepancies.
What Is Accrued Inventory and How Does It Work in Accounting?
Learn how accrued inventory is recorded in accounting, its impact on financial statements, and how different costing methods influence valuation.
Can You Have a 401(k) if You Are Self-Employed?
Explore how self-employed individuals can set up and manage a 401(k), including eligibility, contribution limits, and compliance considerations.
Taxes on a 403(b) Tax-Sheltered Annuity Explained
Understand how a 403(b) tax-sheltered annuity is taxed, from contributions to withdrawals, including penalties, required distributions, and rollover options.
How to Get and Understand an Amended Tax Return Transcript
Learn how to request an amended tax return transcript and interpret key updates, including income adjustments, credit changes, and withholding modifications.
What Is Adjusted Gross Income (AGI) and How Is It Calculated?
Learn how Adjusted Gross Income (AGI) is calculated, its role in tax planning, and how it impacts deductions, credits, and overall financial decisions.
Do You Need a 1099-INT for Your American Express Savings Account?
Learn when American Express issues a 1099-INT, how to access it, and what to do with the information for accurate tax reporting and record-keeping.
1099 vs K-1: Key Differences and When Each Is Issued
Understand the key differences between 1099 and K-1 tax forms, including issuance, tax implications, and filing responsibilities for various income types.
Can You Have an HSA With Medicaid? Eligibility and Rules Explained
Understand how Medicaid affects HSA eligibility, contributions, and tax implications to make informed decisions about your healthcare savings.
What Is the 8960 Tax Form and Who Needs to File It?
Learn who needs to file Form 8960, how it applies to different types of investment income, and how it interacts with other tax forms to determine net investment tax.