What Deductions Can I Claim on PA State Taxes?
Navigate Pennsylvania’s unique tax system. Learn which specific deductions are allowed and how they differ from federal rules to properly file your state return.
Investment and Financial Markets
What Are the Rules for a 403b Required Minimum Distribution?
Understand the specific withdrawal requirements for your 403(b). This guide clarifies the RMD process, timing nuances, and plan-specific rules to ensure compliance.
What Is IRS Qualified Improvement Property?
Explore the tax classification for certain interior commercial property upgrades and how it impacts your depreciation strategy and overall tax liability.
ASC 360: Accounting for Impairment and Disposal
Understand the framework of ASC 360, which guides how to assess and record value declines in long-lived assets to maintain an accurate balance sheet.
What Is a 351 Exchange and How Does It Work?
Explore how a 351 exchange allows you to contribute property to a corporation for stock, deferring taxes and shaping the company’s financial foundation.
Is There a Penalty for an Amended Tax Return?
Learn the financial implications of correcting a tax return. Costs are tied to the original underpayment, not the act of filing an amendment.
How Can You Write Off an RV on Taxes?
An RV can offer tax advantages, but eligibility depends on its specific use and strict IRS rules. Understand the requirements to support your deduction.
How to File IRS Form 8822, Change of Address
Keeping your mailing address current with the IRS is essential for receiving refunds and notices. Learn the official procedure for making this update.
Which States Don’t Have a Property Tax?
While all states have property taxes, their impact varies. This guide explains how to look beyond a single tax to understand a state’s true cost.
Employee Bonus on Sale of Company: Tax Rules
Bonuses from a company sale are taxed as compensation, not capital gains. Learn how these payments are structured and the tax rules that affect your take-home pay.
IRS Guidelines for a Date of Death Appraisal
Learn the IRS requirements for valuing a decedent’s assets. A proper appraisal is essential for accurate estate tax reporting and establishing beneficiary cost basis.
How to File a Late Election Form 2553
Learn the established IRS procedure for gaining relief when Form 2553 is filed late, including how to properly request S Corp status retroactively.
How Does Child Care Reimbursement From an Employer Work?
Learn how employer child care reimbursements can lower your costs. This guide explains the financial structure and the process for accessing this valuable benefit.
What Is Carbon Accounting and How Does It Work?
Learn how carbon accounting provides a structured method for organizations to measure their full climate impact, turning complex operational data into a clear footprint.
What Is a 2652(a)(3) Reverse QTIP Election?
Understand how the reverse QTIP election changes the transferor for GST tax purposes, enabling spouses to maximize multi-generational wealth preservation.
CbCR Reporting: What It Is and How to Comply
A guide to Country-by-Country Reporting, a tax transparency rule requiring multinationals to detail their global allocation of income, taxes, and activity.
Does a Landlord Have to Show Receipts for Repairs?
Understand the documentation your landlord must provide for security deposit deductions and learn the specific steps to take when disputing unsubstantiated charges.
What States Do Not Tax Railroad Retirement Benefits?
Understand the state tax implications for your railroad retirement income. The rules depend on the federal distinction between Social Security and pension benefits.
How to Read a Tax Return: A Breakdown of Form 1040
Your Form 1040 tells the story of your financial year. Learn to read this key document to understand how your final tax outcome is calculated.
How to Calculate Long-Term Capital Gains Tax
The tax on your investments depends on more than the sale price. Understand how to correctly calculate your gain and how your income determines the rate you pay.