Do Roth IRA Withdrawals Count as Income for Medicare?
Not all retirement income affects Medicare costs equally. Understand the unique treatment of qualified Roth IRA withdrawals for your premium calculation.
Investment and Financial Markets
7-Year MACRS Depreciation Calculation and Rules
Understand the tax framework for 7-year business assets. This guide clarifies MACRS depreciation rules and their strategic interaction with other tax deductions.
Does Virginia Tax Military Retirement?
Understand how Virginia taxes military retirement pay. Learn about state tax subtractions for eligible retirees that can reduce your overall tax liability.
Are Loan Payments Tax Deductible for a Business?
While a full loan payment is not deductible, the interest portion often is. Learn the key IRS rules for deducting business interest and what limitations may apply.
What Does First-In, First-Out Mean?
First-In, First-Out (FIFO) is a crucial accounting method for tracking costs. Learn how this principle works and its direct impact on reported profitability.
Do Prescriptions Go Towards Your Deductible?
Understand how your plan applies prescription costs to your deductible. Learn what determines your out-of-pocket responsibility and which payments may not be included.
The Lease Value Rule for Employer-Provided Vehicles
Accurately determine the taxable income for an employee’s personal use of a company car using the IRS-approved annual lease value method.
What Is an Equity Reserve and How Does It Work?
Learn how an equity reserve functions as a pool of unissued stock, influencing a company’s financial structure and shareholder ownership.
Does West Virginia Have Personal Property Tax?
Understand West Virginia’s annual personal property tax. Our guide clarifies the requirements for your vehicles and assets and how to reduce your overall tax liability.
What Is a Cost Sharing Agreement and How Does It Work?
Explore how related entities use cost sharing agreements to jointly fund intangible development and align financial contributions with expected benefits.
What Is an Indirect Subsidiary in a Corporate Structure?
Learn how indirect subsidiaries function within a corporate structure to provide key strategic advantages for liability, organization, and tax planning.
How to Calculate Capital Gains Tax on Investment Property
Learn how the tax on your investment property sale is calculated, from establishing the correct cost basis to understanding the different tax treatments for your gain.
Do You Have to Pay Taxes on Reward Money?
Understand the tax implications of receiving reward money. This guide explains how the IRS views such income and what’s needed for accurate tax filing.
Rules for an IRA Distribution Before 59 1/2
Withdrawing from an IRA before 59 1/2 has key tax implications. Understand the regulations, potential penalty waivers, and the necessary reporting process.
Accounting for Government Grants Under IFRS and GAAP
Navigate the nuanced accounting for government financial aid. This guide explains the core principles for recording and reporting under different frameworks.
Can I File Head of Household If Separated?
Understand the IRS rules that may allow you to file as Head of Household while separated, even though you are still legally married.
What Is a Non-Section 1411 Trade or Business?
Understand how your involvement in a trade or business determines if its income is subject to the 3.8% Net Investment Income Tax under Section 1411.
What Is the Difference Between FUTA and FICA Taxes?
Understand the key distinctions between federal payroll taxes. Learn how FICA and FUTA differ in purpose, funding structure, and employer vs. employee liability.
What Are Adjusted Earnings and How Are They Calculated?
Go beyond standard financial statements to understand how companies modify earnings and what these adjustments mean for assessing their operational health.
Do You Have to Pay Taxes on Money Inherited From a Trust?
The tax treatment of a trust inheritance depends on several factors. Discover how the type of distribution and assets received affect your potential tax obligations.