Business and Accounting Technology

Examine the tax implications of employee discounts, from the general rule defining them as compensation to their interaction with statutory exceptions.

Understand the financial details of leasing a car in California. Our guide clarifies how tax is applied to your payments and other costs throughout the lease term.

Clarify your tax duties for nonpayroll income. This guide covers Form 945, explaining how to report and deposit withheld federal income tax.

Learn about the state franchise tax, a levy on a business’s existence or privilege to operate, often based on net worth rather than income.

Understand the key difference between granting someone power to represent you before the IRS and simply authorizing them to access your tax information.

The large tax amount on your retro pay is based on withholding rules, not your final tax rate. See how it balances out on your annual tax return.

Learn the correct accounting and tax procedures for disposing of obsolete stock to ensure accurate financial reporting and optimize tax outcomes.

Navigate the requirements for reporting UK rental income. This guide provides a clear framework for landlords completing a Self Assessment tax return.

A deed in lieu of foreclosure creates two separate tax events: the cancellation of debt and the transfer of property, each with its own set of rules.

Explore the purpose of Form 1040-ES and the process for making quarterly estimated tax payments on income not subject to standard withholding.

Gifting money to grandchildren involves more than a single tax rule. Understand the different thresholds and special provisions for tax-free giving.

A 529 plan can fund flight school, but it hinges on the institution’s federal standing. Understand the rules for making tax-free withdrawals for training.

This guide provides a procedural overview for reporting a rental property sale, focusing on Form 4797 and the treatment of gain and depreciation recapture.

California’s SDI tax is not universal. Understand the specific employment classifications and alternative plans that legally exempt you from this payroll deduction.

Clarifies the tax reporting obligations for U.S. persons transferring property to a foreign corporation and the details needed for proper IRS compliance.

While contributing to an HSA requires specific insurance, the funds are yours to keep and use even if your health coverage changes.