IRS Publication 969: Rules for HSAs, FSAs, and HRAs
Understand the IRS rules for your tax-favored health account. This guide covers contribution limits, qualified expenses, and tax reporting requirements.
Business and Accounting Technology
Do I Need to File a Philadelphia City Tax Return?
Navigate Philadelphia’s city tax requirements. This guide clarifies filing obligations for residents, commuters, and business owners beyond simple wage withholding.
Do I Pay Property Tax on Inherited Property in California?
Inheriting a California property triggers a review of its annual taxes. Learn the current rules for family transfers to manage your future tax obligations.
What Are the Missouri Standard Deduction Amounts?
Learn how Missouri’s standard deduction can lower your tax bill. We explain the current amounts and help you weigh them against itemizing for your filing status.
Claiming the 48e Clean Electricity Investment Credit
Explore the financial and procedural framework of the 48e Clean Electricity Investment Credit to ensure proper compliance and maximize project returns.
What Is the Buy, Borrow, and Die Strategy?
Explore a wealth management strategy that uses appreciating assets to provide liquidity while deferring capital gains and impacting intergenerational wealth.
990 Late Filing Penalty and How to Request Abatement
Understand the financial and compliance implications of a late Form 990 and the established framework for resolving penalties with the IRS.
Who Pays Tax When an Estate Is the Beneficiary of an IRA?
An estate inheriting an IRA has specific tax obligations. Learn how distribution choices determine whether the estate or the heirs are responsible for the tax.
Do You Have to Pay Taxes on Indian Casino Winnings?
Winnings from a tribal casino are federally taxable income. Learn about your reporting responsibilities and the financial considerations for your tax return.
How to Calculate Capital Gains on Stocks
Accurately determine the taxable profit from your stock sales. This guide explains the key components and methods behind the complete calculation.
What Is the STD Deduction on My Paycheck?
Understand the STD deduction on your paycheck. Learn how paying this premium for short-term disability coverage impacts whether your future benefits are taxed.
Is Schedule M-2 Required for Form 1120-S?
Clarify your S corp’s Schedule M-2 filing duty. Learn how financial thresholds and account activity determine the tax treatment of shareholder distributions.
What Does It Mean When Your Account Is Debited?
A debit means money is leaving your account. Understand the fundamentals of this core banking term to better track your spending and read your statements.
Tax Treatment for the Sale of a Vacation Home
Selling a second home has specific tax consequences. Learn how its history of personal and rental use influences the final tax calculation on your gain or loss.
ASC 926: Accounting for Films and Entertainment
Understand the specialized accounting principles of ASC 926, which standardizes financial reporting for the distinct lifecycle and economics of film assets.
Are Federal Income Taxes Really Voluntary?
Explore the legal framework of the U.S. tax system and learn why “voluntary compliance” refers to the method of self-assessment, not a choice to pay.
The Illinois 529 Tax Deduction: How It Works
Explore the mechanics of the Illinois 529 tax deduction. Learn how to strategically use contributions to reduce your state tax liability year after year.
The 3 Accounting Statements and How They Connect
See how a company’s performance, value, and cash position are not separate figures, but parts of a single, interconnected financial story.
What Qualifies as a Capital Home Improvement?
Learn the financial difference between a home repair and a major improvement to properly account for your projects and lower your tax obligation when you sell.
Rebate vs. Refund: What’s the Difference?
Is it a rebate or a refund? The difference impacts who pays you and why. Explore the financial distinctions between these common consumer transactions.