Are State Taxes Calculated After Federal?
Your federal return provides the necessary starting point for most state tax calculations, but state-specific laws determine your ultimate tax obligation.
Business and Accounting Technology
Who Can File the Form 990-N e-Postcard?
Learn the annual IRS filing requirements for small tax-exempt organizations. This guide clarifies the Form 990-N e-Postcard process to maintain compliance.
Are IRAs Subject to Estate Tax & How Are They Taxed?
An inherited IRA faces two potential taxes. Learn how an IRA’s value affects estate tax calculations and the separate income tax liability for beneficiaries.
Excess Deductions on Termination: How to Claim Them
Unused deductions from a finalized estate or trust can pass to a beneficiary, providing a direct tax benefit under current federal tax regulations.
What Are the Form 941 Deposit Rules?
Your employer tax deposit schedule for Form 941 depends on specific rules. Learn how to determine your requirements and make proper payments to the IRS.
Revenue Procedure 2009-41 vs. 2010-32: Which Do You Need?
Understand the key distinctions between IRS relief procedures for late business tax elections to ensure you select the correct path for your specific situation.
What Are Assurance Services and Why Do They Matter?
Explore how an objective, professional assessment of information enhances its reliability and provides greater confidence for key decision-makers.
Are Life Insurance Proceeds Taxable to a Trust?
The tax treatment of life insurance in a trust involves more than the death benefit. Understand how trust structure dictates estate and ongoing income tax outcomes.
The AICPA Statements on Standards for Tax Services Explained
Understand the professional standards guiding a CPA’s ethical judgment in tax practice, shaping responsibilities for returns and client advisement.
Disbursement From 401k: Rules, Taxes, and Process
Withdrawing from your 401k is a major financial step. Get a clear overview of the regulations and procedures to protect your retirement savings.
PA 529 Withdrawal Rules and Process
Navigate the requirements for withdrawing from your PA 529 account to properly fund educational expenses while preserving the plan’s tax advantages.
What Is a 2503(b) Trust and How Does It Work?
Learn about the 2503(b) trust, an estate planning tool that leverages mandatory income distributions to qualify a portion of a gift for the annual exclusion.
What Are Operating Costs and What Do They Include?
Learn how daily business expenses reveal core profitability and efficiency, distinct from the costs of production or long-term asset investments.
When Is a Stock Dividend Considered Taxable?
Understand the tax implications of a stock dividend. While often nontaxable, the specifics of the distribution determine if you must report income or adjust cost basis.
How IRC Section 1274(d) Determines the Applicable Federal Rate
Learn how federal tax rules impute interest on seller-financed debt for property, affecting the tax obligations for both the buyer and the seller.
Making a 401k Withdrawal for Medical Expenses
Understand the financial considerations and procedural requirements for using retirement savings to cover significant, unreimbursed healthcare costs.
How Tax Consolidation Rules for Corporate Groups Work
Filing as a single taxpayer allows corporate groups to combine income and defer gains, but it requires adherence to specific consolidation rules.
Do Farmers Have to Pay Into Social Security?
Farmers have unique responsibilities for Social Security. Learn how net earnings affect your contributions and discover rules that can help ensure coverage.
How to Complete Social Security Form W-4V
Learn how to use Form W-4V to have federal income tax withheld from Social Security benefits, a key tool for managing your annual tax obligation.
Can You Claim the Solar Tax Credit for a Second Home?
The federal solar tax credit isn’t limited to a primary residence. Learn how the personal use of a second home can make you eligible for this tax incentive.