Can I Make an IRA Withdrawal for the Birth of a Child?
The arrival of a new child creates an exception for IRA withdrawals, avoiding the 10% penalty and offering a unique path to repay the funds later.
Business and Accounting Technology
Sec. 263a: The Uniform Capitalization (UNICAP) Rules
Section 263A shifts how certain businesses account for costs, requiring capitalization instead of immediate deduction, which impacts inventory valuation and profit.
Can I Convert an IRA to a Roth IRA? Rules and Process
A Roth IRA conversion is a taxable event with important procedural rules. Learn how to assess the financial impact and correctly report the transaction.
What Is California Form 592 and Who Must File It?
Understand the function of California Form 592, the annual tax return used to report withholding on payments made to nonresidents of the state.
How Much Tax Should I Pay on a $100k Income?
A $100,000 salary results in a unique tax bill for every person. Understand the complete picture of how your income is taxed and what your true rate is.
What Is an Interest in a Trust and How Does It Work?
Understand your position as a trust beneficiary. Learn how an interest is structured, the rights it provides, and the financial and tax reporting for distributions.
What Is the September 15th Tax Deadline?
The September 15th tax deadline involves key distinctions between filing and paying. Understand your specific obligations to ensure compliance and avoid penalties.
Can I Use My IRA to Pay for My Child’s College?
Withdrawing from an IRA for college involves more than penalty avoidance. Understand the full financial consequences, including the impact on your taxes and student aid.
What Is an Unclaimed Dividend and How Do I Claim It?
Shareholders may be owed lost dividend payments. This guide provides a complete overview of the process for locating, documenting, and recovering your assets.
Can I Cash Out My 401k at Age 65?
Accessing your 401(k) at age 65 involves more than just filling out a form. Understand the financial outcomes and strategic implications before making a choice.
What Is the Massachusetts Corporate Excise Tax?
Learn about the Massachusetts corporate excise tax, a unique tax based on a combination of a corporation’s net income and its in-state property or net worth.
Rev. Proc. 2015-13: Changing Your Accounting Method
Changing a tax accounting method requires IRS consent. Understand the framework of Rev. Proc. 2015-13 to ensure you meet all procedural requirements.
IRS Business Codes for Transportation Services
Ensure accurate tax filing by selecting the correct IRS code for your transportation business. Learn how to identify your principal activity based on revenue.
Can I Open a 529 Plan for My Niece?
Opening a 529 plan for your niece is a generous gift. Learn about the key dynamics of account control and the long-term financial implications.
Do Retirement Accounts Count as Assets?
Retirement funds are considered assets, but how they are defined and protected changes significantly based on the specific financial or legal context.
What Happens If I Claim Exempt on My Bonus Check?
Claiming exempt on a bonus provides more cash upfront but defers your tax liability. Understand the full financial outcome before adjusting your withholding.
How Do I Know If I Have to File City Taxes?
Filing city income taxes depends on a unique set of local rules. Learn how to assess your specific situation and navigate your municipal tax duties.
IT-201 Resident Income Tax Return Instructions
Find comprehensive instructions for New York residents filing Form IT-201. This resource helps you navigate the state tax return process accurately.
ERISA Audits: When Is One Required for Your Plan?
An ERISA audit is a key compliance step for many retirement plans. Clarify the audit requirement for your plan and learn how to navigate the process.
What Is a 2632(c) Election for GST Exemption?
The tax code has default rules for allocating GST exemption to trusts. Learn how specific provisions provide control over this process for strategic estate planning.