FAS 97: Accounting for Long-Duration Insurance Contracts
Explore the principles of FAS 97, a historical accounting standard that shifted financial reporting to better reflect the economics of complex insurance products.
Business and Accounting Technology
What Day Are Taxes Due in October?
The October tax deadline is the final step for individuals who filed an extension. Clarify the filing date and the key distinction between filing and paying.
Are Health Insurance Premiums Paid Before or After Tax?
Understand how the timing of your health insurance premium deduction affects your taxable income, overall tax burden, and final take-home pay.
How Much Is Retirement Taxed for Early Withdrawal?
The tax on an early retirement withdrawal depends on your income, location, and reason for the distribution. Learn how these factors determine the final cost.
What Is a Dependent Care Assistance Plan (DCAP)?
Learn how a Dependent Care Assistance Plan helps manage care costs by using pre-tax funds, which lowers your overall annual tax liability.
Equity Method vs. Fair Value Method: Key Differences
Explore how an investor’s influence determines the proper accounting for an investment and its impact on the balance sheet and income statement.
January 1, 2026 Tax Brackets and Key Changes
As tax laws revert to their pre-TCJA structure, see how the upcoming systemic changes will affect financial planning for individuals and businesses.
What Is the Rich Man’s Roth and How Does It Work?
A guide to the financial mechanics and tax compliance involved in moving funds into a Roth account when income limits prevent direct contributions.
What Is Net Interest Income and How Is It Calculated?
Understand the key driver of a bank’s earnings. This metric shows how effectively a financial institution manages its lending and funding activities.
Section 1256 Contracts and Straddles: Tax Rules
Learn how certain financial contracts are taxed under a blended long- and short-term rate and how these rules interact with loss deferral for straddles.
S Corp K-1: How to Report Income and Distributions
For S Corp shareholders, this guide explains how the K-1 form connects your business’s performance to your personal tax return and shareholder basis.
What Is Form 990-T and Who Needs to File It?
Even tax-exempt organizations can have taxable income. Understand the principles behind unrelated business income to determine your Form 990-T filing obligations.
Day Trader Tax Status: How to Qualify
Understand the IRS framework that separates active traders from investors, a distinction that fundamentally alters the tax treatment of your gains and losses.
Tax Breaks and Credits for Foster Parents
Navigate the tax landscape of foster parenting. This guide clarifies IRS definitions and financial provisions that can impact your family’s tax situation.
What Is Colorado’s Specific Ownership Tax?
Learn how Colorado’s annual vehicle tax is determined. Paid with registration, this fee is based on your car’s original value and age, not its current worth.
SIMPLE IRA Early Withdrawal Penalty: Rules and Exceptions
Taking an early distribution from a SIMPLE IRA has distinct tax implications. Learn how the timing of your withdrawal affects penalties and what options may be available.
Kentucky Homestead Exemption: How to Qualify and Apply
Understand how Kentucky’s homestead exemption reduces your property’s assessed value, providing a tax reduction for qualifying senior and disabled homeowners.
How to Record Advance Payments in Accounting
Explore the accounting process for advance customer payments, from their initial classification as a liability to their eventual recognition as income.
Do RMDs Affect Your Social Security Taxes?
Understand how distributions from retirement accounts are treated as income, a factor that can change the taxability of your Social Security benefits.
How the De Minimis Tax Rule Affects Municipal Bonds
The tax treatment of a market discount on a municipal bond affects your net return. Learn how the de minimis rule determines if this gain is taxed as capital or ordinary income.