Does New Jersey Tax 401k Distributions?
Understand New Jersey’s distinct method for taxing 401k withdrawals. Learn how your own contributions and retirement eligibility can reduce your state tax liability.
Investment and Financial Markets
Do Capital Gains Affect Social Security Taxation?
Selling investments can unexpectedly trigger taxes on your Social Security benefits. Understand the connection between your gains and your taxable income to plan effectively.
1.451-3: Rules for Taxing Advance Payments
Understand the tax timing rules for including advance payments in gross income, with deferral methods for accrual taxpayers tied to financial reporting.
What Is the Lookback Method for Long-Term Contracts?
This tax method reconciles income from multi-year contracts after completion by calculating interest on the difference between estimated and actual profits.
Can I Pay My Own Property Taxes Without Escrow?
Paying property taxes without an escrow account offers more control but requires careful planning. Understand the financial implications of managing this payment yourself.
Derecognition of Assets and Liabilities Explained
Learn the accounting criteria for removing an asset or liability from the balance sheet, including how to calculate the resulting gain or loss on the transaction.
What Is a 527 Organization? Rules and Requirements
Understand the operational framework of a 527 organization, a tax-exempt entity designed for political activity, from its legal structure to its public reporting.
How to Deduct Self Employed Travel Expenses
Confidently navigate IRS rules for self-employed travel deductions. Learn the key principles for qualifying your journey and substantiating every expense.
How Much Federal Income Tax Is Withheld in Texas?
Understand how your personal financial situation and choices directly influence the amount of federal income tax withheld from your Texas paycheck.
Form 8898: Instructions and Filing Requirements
Understand the compliance steps for Form 8898, the informational return for individuals changing their residency status in a U.S. possession.
How to Claim the Section 179 Deduction for a Car
Properly deducting a business vehicle can lower your taxable income. Understand the key distinctions and procedures for claiming the Section 179 incentive.
How to File Schedule SE for Self-Employment Tax
Understand the mechanics of Schedule SE, from using your net earnings to calculate your tax liability to reporting the results on your Form 1040.
How IRC 2522 Governs Charitable Gift Deductions
Navigate the intersection of philanthropy and tax law. Learn the rules governing the gift tax deduction for charitable contributions under IRC 2522.
Do Cruise Ship Workers Pay U.S. Taxes?
U.S. tax liability for cruise ship workers is rarely simple. This guide explains how personal factors and work location affect your filing responsibilities.
Why Does the Tax Bracket Jump From 12% to 22%?
The jump from the 12% to 22% tax bracket stems from a major tax law revision designed to adjust rates and provide relief for middle-income earners.
Instructions for IRS Form 8826, Disabled Access Credit
Understand the tax principles behind the Disabled Access Credit, a nonrefundable credit for small businesses making accessibility enhancements.
26 U.S.C. § 7202: Willful Failure to Pay Over Tax
An overview of 26 U.S.C. § 7202, detailing how financial authority and intentional action can lead to felony charges for unpaid trust fund taxes.
What Is the Economic Resources Measurement Focus?
Explore the governmental accounting method that looks beyond current cash flows to measure total assets, liabilities, and the full cost of services.
What Is the IRS Overpayment Penalty?
The IRS doesn’t penalize standard tax refunds. Learn about the specific penalty for erroneous claims and the reasonable basis required to avoid it.
Are IRAs and 401ks the Same? Key Differences
Discover how 401(k)s and IRAs differ in their core structure, affecting everything from how you open an account to the flexibility you have with your money.