401k Catchup Contribution Amounts and Rules
Understand the strategic rules and recent regulatory changes that allow individuals over 50 to accelerate their 401k retirement savings.
Investment and Financial Markets
Can an Employer Make You Pay Back Health Insurance Premiums?
An employer’s ability to recover health insurance costs from a departing employee is rare and legally restricted. Learn the specific exceptions that apply.
What Is Federal Form 4720 and Who Must File It?
Gain clarity on Form 4720, the return for the two-tier excise tax system governing prohibited financial activities of private foundations.
List of Taxes We Pay: Federal, State, and Local
Learn how the system of required financial contributions is structured to fund public works and government programs at all levels.
ASC 350-20: Goodwill Impairment and Accounting Rules
Delve into the accounting principles of ASC 350-20, covering how goodwill is valued post-acquisition and managed under different models for public and private entities.
How Are Non-Qualified Stock Options Taxed?
Understand the two-part tax structure for NQSOs. Learn how they generate both ordinary income and a separate capital gain to ensure accurate reporting.
What Is the IRS De Minimis Rule for Businesses?
Explore the IRS principle that allows certain low-value business transactions to be handled with simplified tax and accounting procedures.
What Happens If You Take More Than Your RMD?
Taking more than your required minimum distribution has financial effects beyond the withdrawal itself. Explore the impact on your annual income and long-term planning.
Maryland Lottery Taxes: How Winnings Are Taxed
Understand the financial journey after a lottery win. This guide clarifies how Maryland winnings are treated as income and the responsibilities that follow.
Prorated Taxes: How They Are Calculated in a Home Sale
Gain insight into the financial mechanics of a home sale by understanding how annual property tax obligations are equitably split at closing.
What Are the 10 Principles of GAAP?
Explore the accounting framework that underpins U.S. financial reporting, ensuring financial statements are consistent, comparable, and reliable.
List of Miscellaneous Itemized Deductions
Understand the current status of miscellaneous itemized deductions following federal tax law changes. Explore the key differences between former and current rules.
When Do You Have to Pay 110% of Prior Year Tax?
Paying 100% of last year’s tax isn’t always enough. Learn how higher income levels can change the standard for your required annual tax payments.
Is a Trailer Considered a Vehicle for Tax Purposes?
A trailer’s tax status is complex. Its classification depends on government rules, how you use it, and even its specific features and amenities.
401k Penalty Exceptions to Avoid the 10% Penalty
Avoiding the 10% early 401k penalty depends on both IRS-approved circumstances and the specific distribution rules of your retirement plan.
How Are Sweepstakes Winnings Taxed?
Winning a sweepstakes prize creates a tax event. Understand your financial obligations and the process for correctly reporting cash or non-cash prizes as income.
Taxes on Money Transfers From India to the USA
Understand how a money transfer from India to the US is viewed by each country’s tax system, clarifying the separate obligations for senders and recipients.
What Are the 8-K Filing Deadlines?
Navigate the timing requirements for Form 8-K reports. Learn the standard deadline, key variations, and the framework for ensuring regulatory compliance.
Convertible Note Tax Treatment for Startups & Investors
Understand the nuanced tax treatment of convertible notes. Key events create distinct financial and reporting duties for both startups and investors.
C Corp Dividends: Taxation and Reporting Process
Understand the tax treatment and procedural steps for C Corp dividends, from the effects of double taxation to the formal reporting requirements.