What is Fair Value Through Profit or Loss (FVTPL)?
Understand the FVTPL accounting classification where financial instruments are measured at fair value, with all gains and losses directly impacting the P&L.
Investment and Financial Markets
ASC 820 Fair Value Measurement Requirements
Learn the principles of fair value measurement under ASC 820, from how to apply observable market data to when to use unobservable inputs.
Donor Advised Fund Tax Deduction Limits
Explore the tax regulations for Donor Advised Fund contributions. See how your deduction is shaped by your income and the type of asset you choose to donate.
Section 174d: Amortizing Your Software Development Costs
New tax rules under Section 174 change how businesses account for software development. Learn how to properly capitalize and spread these costs over time.
Do You Pay Taxes on 401k After 65?
Navigating 401(k) taxes after 65 involves understanding how withdrawals interact with your overall financial picture, not just a single age-based rule.
Taxes When You Live in Florida and Work in New York
Understand the specific tax framework for Florida residents earning New York income. Learn how NY determines your tax liability regardless of your home state.
Where Do I Report Unemployment Income on 1040?
Learn the correct tax filing process for unemployment benefits. This guide clarifies where to report income and how to claim federal tax withheld on your 1040.
What Is Box 16 on a W-2? Defining State Wages
Learn how state wages in Box 16 of your W-2 are determined and why this amount can differ from your federal wages, impacting your state tax return.
Military Reserve Expenses: What Can You Deduct?
This guide explains how military reservists can reduce their adjusted gross income by claiming certain unreimbursed, service-connected costs.
Do I Have to Pay Property Taxes If I Am Disabled?
Property tax relief for homeowners with a disability is managed locally. Understand the common eligibility rules and processes for reducing your annual tax bill.
Is Social Security Taxed Before or After Medicare Is Deducted?
Clarify the financial interplay between your benefits. Learn how Social Security taxes are calculated on your total benefit before Medicare deductions are applied.
Michigan’s Personal and Dependent Exemptions
Understand how Michigan’s reinstated personal and dependent exemptions can reduce your taxable income and find out how to apply them on your state tax return.
How Does 2024 Bonus Depreciation Work?
Understand the 60% bonus depreciation rate for 2024 and its scheduled phase-down. Learn how current rules and proposed legislation impact your business asset deductions.
When Does OASDI Withholding Stop Each Year?
Understand the annual earnings cap for Social Security tax and how your employment situation affects total withholding and potential tax return credits.
What Are the State Taxes in New Mexico?
Understand New Mexico’s tax system. This guide details the state’s tax structure, rates, and obligations for both individuals and business owners.
Depreciation Rules for a 1031 Exchange
Learn the nuanced tax treatment of a replacement property after a 1031 exchange, including how its prior tax history influences future depreciation.
The Roth SIMPLE IRA Under the SECURE 2.0 Act
Examine the strategic and administrative shifts for small business retirement plans following the introduction of the Roth SIMPLE IRA by SECURE 2.0.
Can I Use My HSA for Non-Medical Expenses?
Accessing your HSA funds for non-medical needs is an option. This guide explains the financial considerations and rules you need to know to avoid surprises.
What Are SEC Document Retention Requirements?
Maintaining proper financial records is a core compliance function under SEC rules. Learn about the regulatory framework for managing these obligations.
What Are the GAAP Capitalization Rules?
Discover the GAAP framework for classifying costs as long-term assets versus expenses, a key decision that shapes financial reporting and asset valuation.