Are Booster Clubs Tax Exempt? What You Need to File
Gaining tax-exempt status for a booster club requires proper organizational setup and ongoing compliance. Learn the steps to formalize your group with the IRS.
Business and Accounting Technology
What Is a Shipping Container’s Depreciation Life?
Explore the financial framework for depreciating a shipping container, including how its purpose dictates available tax deduction strategies.
Puerto Rico Tax Table and Income Tax Rates
A clear overview of Puerto Rico’s distinct tax structure for residents, explaining the principles behind calculating your individual income tax.
Tax Treatment for the Sale of Intangible Assets
Learn the essential tax considerations for selling intangible assets. Discover how asset classification and acquisition method impact your final tax liability.
26 USC 6651: Penalties for Failure to File or Pay Tax
Explore the rules governing penalties for late tax filing and payment, including how they are calculated and the established grounds for their removal.
What Counts as Income in Retirement?
Understanding how different cash sources are treated for tax purposes is key to managing your finances in retirement. Explore the nuances beyond simple cash flow.
How to Prepare a Net Asset Roll Forward
Learn how a net asset roll forward connects the balance sheet and statement of activities, providing a crucial reconciliation for financial integrity.
How the IRS Determines Your Marriage Status for Taxes
Your legal relationship status on a single day determines your federal tax obligations for the entire year. Explore the official criteria and financial implications.
What Is the 25D Residential Clean Energy Credit?
Learn how the federal residential clean energy tax credit can reduce your tax liability. This guide explains the key financial details and filing process.
What Are the Roth TSP Contribution Limits?
Understand the different contribution rules for your Roth TSP. Learn how the limits for your savings interact with employer funds and other accounts.
ISRE 2410: Review of Interim Financial Information
Discover how ISRE 2410 guides an auditor in reviewing interim financial data, providing a level of assurance that is distinct from a full audit.
Are Benefits Taken Out Before Taxes?
Not all paycheck deductions are the same. Learn how pre-tax and post-tax benefits choices differently impact your taxable income for both income and FICA taxes.
Do Employers Get Tax Breaks for Offering Health Insurance?
Employers can reduce their tax obligations by providing health benefits. Learn how these financial advantages work and what’s required to claim them.
How Property Tax Works When Buying a House
Gain a clear view of your property tax obligations as a new homeowner, from how they’re addressed at closing to managing payments after you move in.
S Corp Rental Property: Tax Rules and Traps
Understand the distinct tax consequences of using an S Corp for rental property, including basis rules, shareholder payouts, and disposition strategies.
What to Know About the New Tax in Washington State
Understand how Washington’s new capital gains tax affects you. Learn about residency rules, major exemptions like real estate, and your filing obligations.
ASC 932: Accounting for Extractive Activities
Understand the financial reporting framework of ASC 932, which guides how oil and gas producers translate complex operational activities into financial results.
How Are Employee Stock Grants Taxed?
Employee stock grants create unique tax situations. Understand how the journey from grant to sale determines your ordinary income and capital gains tax.
Types of Balance Sheet Formats and Layouts
Understand how different balance sheet structures and layouts are used to organize financial data for clarity, liquidity assessment, and trend analysis.
How to Reduce MAGI With Deductions and Tax Strategies
Learn how your MAGI impacts eligibility for tax credits and deductions, and discover how strategic financial choices can help you manage this key figure.