How to Prepare and File a 351 Statement
Learn the specific IRS disclosure requirements for a tax-deferred 351 exchange, including the distinct reporting obligations for each party involved.
Business and Accounting Technology
How Are Military Bonuses Taxed?
A military bonus is taxable, but your initial withholding isn’t the final word. Learn how your total tax is calculated and what situations can change it.
What Is Reg 9? Fiduciary Rules for Banks
Explore how Reg 9 sets the operational and ethical groundwork for banks acting as fiduciaries, ensuring accountability and the protection of client assets.
What Is the Current 7520 Rate and Why Does It Matter?
Understand the IRS Section 7520 rate, a key factor used to determine the present value of future financial interests for gift and estate tax purposes.
Roth 60 Day Rollover: Rules and Tax Implications
Executing a 60-day rollover to a Roth IRA has important tax and timing rules. Learn how to manage the process to avoid unintended tax consequences.
How Much Can You Contribute to a TSP?
Navigate the different layers of TSP contribution rules. Learn how various limits for federal employees and service members work together to define your total.
Wisconsin Gift Tax Rules for Residents
Learn how giving a gift in Wisconsin creates federal duties for the donor, while receiving one can impact the recipient’s future state income tax obligations.
What Is the Tax Treatment of SERP Distributions?
Navigating the tax treatment of SERP distributions requires understanding key differences from qualified plans, including separate timing for tax obligations.
IRC 168(k)(7): Limitations on Bonus Depreciation
Explore how prior ownership history and the relationship between a buyer and seller impact eligibility for bonus depreciation on used business property.
What Will the Tax Brackets Be in 2026?
Absent new legislation, the individual tax code will revert to a prior version in 2026. Explore how this shift will alter key aspects of tax filing.
Schedule 1 Line 8j: What Qualifies as Other Income?
Navigate IRS requirements for income that doesn’t fit standard categories. Learn how to properly classify and report these earnings on Schedule 1, Line 8j.
TEFRA and DEFRA: Key Tax Rules and Provisions
Examine the foundational changes from the TEFRA and DEFRA tax acts, which created new frameworks for tax compliance and business accounting principles.
What Is a Custodial Account? Types, Rules, and Taxes
A custodial account is a way to give financial assets to a minor. Understand the adult’s fiduciary role and how the funds are managed until the beneficiary takes control.
How to File Form M1PR for a Property Tax Refund
A guide for Minnesota homeowners and renters filing Form M1PR. Understand the complete process to ensure you claim your property tax refund accurately.
Which Factors Limit the QBI Deduction?
The QBI deduction involves more than the 20% rule. Understand the layered framework of qualifications that can adjust your final tax savings amount.
Capital Improvements vs. Repairs on a Rental Property
For landlords, classifying an expense as an improvement or repair has long-term financial consequences, influencing both annual tax filings and profit upon sale.
How to Roll Over a Roth 403(b) to a Roth IRA
A Roth 403(b) to Roth IRA rollover involves key financial and procedural rules. Understand the mechanics of the transfer to ensure a smooth transition.
Can Both Spouses Max Out Their 401k Plans?
Understand how 401k contribution limits work on an individual basis, enabling married couples to build a more effective joint retirement and tax strategy.
Complying With IRS Wellness Program Regulations
Navigate the tax complexities of employee wellness programs. Learn how to design initiatives that align with IRS rules to avoid unintended tax consequences.
Is Child Support Taken Out Before or After Taxes?
Child support payments have specific tax rules that affect both parents. Learn how these payments are treated and what it means for your annual tax return.