Business and Accounting Technology

Learn how the purpose of a legal settlement determines its tax treatment. Understand the crucial distinctions that define whether your award is taxable income.

Recent tax law has shifted how most people lower their taxable income. This guide covers the standard deduction’s current role and how to decide if it’s your best option.

The arm’s length standard provides a framework for pricing transactions between related entities to ensure fair market value and maintain tax compliance.

Learn how the IRS Applicable Federal Rate (AFR) establishes the minimum interest for private loans, defining their tax treatment and preventing imputed income liability.

Revenue Code 206 defines the standard daily charge for routine inpatient care, distinguishing basic accommodation from separately billed ancillary services.

The one-time senior home sale exemption is an outdated rule. Learn how the current tax law provides a valuable, repeatable exclusion for most homeowners.

Selling a partnership interest involves distinct tax rules. Learn how gain is calculated and why a portion may be taxed as ordinary income instead of capital gain.

Gain insight into the Kansas tax return review process. This guide explains the factors that determine your refund’s timeline and how to proceed.

Understand the mechanics of the Net Investment Income Tax. This guide clarifies how your total income and specific investment gains interact to determine your final tax base.

Explore how HSA contributions lower your taxable income. This reduction directly impacts your MAGI, which determines eligibility for other key tax advantages.

Learn how a U.S. corporation’s real estate holdings can change the tax treatment of its stock for foreign shareholders when the shares are sold.

Contrary to belief, the Amish pay most taxes. Explore the single, narrow exemption rooted in their religious principles of community self-reliance.

Reduce your Michigan taxable income with 529 contributions. Learn the essential rules for claiming this state-specific deduction and its long-term tax implications.

Understand the tax treatment of warranties and service contracts. Learn how the initial cost is handled and whether a repair or reimbursement is considered income.

The tax deduction for home equity loan interest is now conditional. Learn how the use of the funds and other factors determine your eligibility under current law.

Using your apartment as a business address has several layers of compliance. Learn the legal and privacy implications before registering your company.