Is It Legal to 1099 a Truck Driver?
A driver’s legal classification hinges on the facts of the work relationship, not just a contract. Understand the key federal and state evaluation criteria.
Investment and Financial Markets
What Is Decanting a Trust and How Does It Work?
Learn how decanting gives a trustee the power to move assets from an old trust to a new one, providing a way to update an irrevocable instrument.
Can I Contribute 100% of My Salary to My 401k?
Learn the practical and regulatory reasons you can’t contribute an entire salary to a 401k and how the real maximum is determined by multiple factors.
What Are Unrealized Capital Gains and How Are They Taxed?
Learn the key distinction between a potential profit on assets you own and a taxable gain, and see how the timing of a sale or transfer impacts what you owe.
PCAOB Rule 3522: Tax Services and Auditor Independence
Learn how PCAOB Rule 3522 defines the boundaries for providing tax services to an audit client, structuring auditor and committee roles to ensure independence.
How Much Can I Withdraw From My IRA Without Paying Taxes?
The ability to take tax-free distributions from an IRA depends on the rules governing your specific account and the nature of the funds being withdrawn.
What Is the Massachusetts ST-9 Form and How Do I File?
This guide explains the MA Form ST-9, helping businesses reconcile their annual sales and use tax payments with the Department of Revenue.
How the Indiana 529 Tax Credit Works
Learn how contributing to an Indiana 529 plan can lower your state income tax. This guide covers the key rules and strategic financial considerations.
Do You Pay Taxes on Condos? What to Know
Condo ownership involves a unique tax framework. Learn how your financial obligations are determined and how they shift based on how you use your property.
How Is the Cost of an Easement Calculated?
An easement’s price is based on its total financial impact. Learn how compensation accounts for a property’s diminished value and other economic considerations.
When Does the IRS Report Earnings to Social Security?
Understand the data exchange between the IRS and Social Security that ensures your earnings are correctly credited toward your future benefits.
Are Awards Taxable According to the IRS?
Receiving an award involves tax considerations. This article explains the IRS view on what makes a prize taxable and the narrow circumstances where it may not be.
What Is the IRS 508(c)(1)(A) Mandatory Exception?
Understand how certain religious organizations are automatically tax-exempt under 508(c)(1)(A) and why many still seek formal IRS recognition.
IFRS 37: Provisions, Contingent Liabilities, and Assets
Gain clarity on IFRS 37, the standard governing the crucial judgment between recognizing a provision and disclosing a contingent liability.
Are Contributions to a 457 Plan Pre-Tax?
A 457 plan offers a choice in tax treatment. Learn how contributing pre-tax can lower your current taxable income versus using the after-tax Roth option.
What Is a Depreciation Reserve in Accounting?
Learn how a depreciation reserve, a contra-asset account, tracks the portion of an asset’s cost that has been used up to determine its net book value.
What Can 529 Funds Be Used for Besides College?
A 529 plan is now a more versatile financial tool. Learn how recent rule changes create new opportunities for tax-free withdrawals beyond college.
SSAP 62R: Accounting for P&C Insurance Contracts
Explore the statutory accounting framework of SSAP 62R, the NAIC standard for how P&C insurers report revenue and related contract obligations.
How to Donate Directly From an IRA to Charity
Understand the financial mechanics of using an IRA for charitable giving, a method that aligns philanthropic goals with a tax-efficient retirement strategy.
What to Spend FSA Money On: A Breakdown of Eligible Items
Navigate your FSA benefits with confidence. Our guide details the full spectrum of eligible expenses to help you maximize your tax-advantaged healthcare spending.