Business and Accounting Technology

The IRS Form W-4 was redesigned, changing the process for claiming an exemption from withholding. Learn the current procedure and what replaced the old Line 7.

Understand your specific FATCA reporting obligations, how they differ from other requirements, and why institutions request tax status certification.

Understand the official procedures for informing the IRS about potential tax non-compliance, including the different pathways available for submitting a report.

The Massachusetts “luxury tax” is not one specific levy. Learn how the state’s tax code addresses both high-value goods and significant personal income.

Understand the IRS framework for treating your cell phone as a legitimate LLC business expense, including how to properly account for business and personal usage.

Some dividends are taxed at the same rates as long-term capital gains, but the rules are specific. Understand the criteria that impact your investment tax liability.

Understand how Social Security tax applies to your bonus. Your total annual earnings play a crucial role in determining the final amount you owe.

Navigate the IRS rules for charitable giving. Understand the complete process for correctly claiming your donations to non-profits as a tax deduction.

Understand Colorado’s tax treatment of military retirement pay. A significant pension subtraction, with limits based on age, can lower your state tax liability.

Explore the data behind U.S. charitable giving to understand how donation patterns and financial approaches differ across the income spectrum.

Understand the annual election allowing businesses to immediately deduct low-cost property acquisitions, simplifying the choice between capitalizing and expensing.

A corporation’s ability to pay taxable dividends is defined by its E&P, a specific tax calculation separate from its reported income or retained earnings.

Explore how allocating a business’s purchase price across its assets establishes the tax basis and gain or loss for the buyer and seller, respectively.

Leaving assets to charity can provide a valuable estate tax deduction. This guide explains the key requirements for structuring and claiming the gift correctly.

The structure and documentation of a financial transfer determine its tax treatment. Learn the IRS criteria for classifying funds as a gift or a loan.

Understand the procedures for handling an S corp ownership transition after a shareholder’s death to ensure compliance and preserve the entity’s tax status.