Business and Accounting Technology

Understand how Arizona taxes capital gains as income and how unique state subtractions for qualifying assets can reduce your final taxable amount.

Learn the fundamental tax framework for business spending. This guide clarifies when an expenditure provides a long-term benefit and must be capitalized as an asset.

A partner’s basis is a dynamic measure of their tax investment, critical for determining the tax effects of distributions and the deductibility of losses.

This guide clarifies the tax treatment of Social Security in Florida, explaining the key differences between state and federal obligations for retirees.

Selling an LLC interest involves distinct tax rules. Understand how the IRS classifies the sale, which determines the seller’s gain and the buyer’s tax basis.

Understand how the FICA EE tax deduction is determined. This guide covers its separate components, their specific rates, and how wage levels affect the final amount you pay.

Understand how tax rules for advance payments differ from standard accounting. Learn the specific IRS conditions for deferring this income into a future tax year.

Navigating church worker classification requires understanding key IRS control factors and the unique dual-status tax rules that apply specifically to ministers.

Understand the process and requirements for itemizing on Schedule A to determine if you can lower your taxable income beyond the standard deduction.

Learn how a Certificate of Deposit can be held within an IRA, allowing you to secure a fixed return while maintaining your account’s tax advantages.

The taxability of Social Security depends on your complete financial picture, not just the benefits. Understand the official IRS framework for making this determination.

Understand the U.S. tax obligations on gambling winnings for foreign visitors and the established procedures for recovering amounts withheld at the source.

Understand how to align your investment in a partnership with the underlying asset basis, creating future tax advantages on depreciation and asset sales.

Explore the IRS guidelines for employer-sponsored HRAs. Learn the key operational and documentation requirements for administering a compliant health benefit.

For S corp shareholders, deducting Medicare premiums depends on a specific reporting method involving the company’s W-2 and a personal tax return.

Learn how a trust’s governing document dictates the payment process and understand the key tax differences between receiving principal versus income.

Learn how contributing to Ohio’s 529 plan can lower your state tax. We explain the financial rules and long-term implications for your education savings.