What Is a 408a Plan and How Does It Work?
Understand the mechanics of a Roth IRA (IRC Section 408a), from its after-tax funding structure to the specific rules governing tax-free distributions.
Investment and Financial Markets
How the Transfer of Trust Assets to a Beneficiary Works
Learn about the structured journey of trust assets, from the required administrative preparations to the procedural mechanics of a compliant final transfer.
What Is the 60-40 Rule for Section 1256 Contracts?
Explore the tax methodology for certain financial contracts where gains and losses receive a blended long-term and short-term treatment, regardless of holding period.
Are Money Market Funds Cash Equivalents?
Explore the accounting classification of money market funds as cash equivalents and the subtle but important distinctions in their risk and structure.
How Do Hair Stylists Show Proof of Income?
Translate your diverse income streams into a professional financial narrative. This guide helps stylists organize their earnings to meet official requirements.
Should the Tax Laws Be Reformed to Encourage Saving?
Tax policy can influence saving, but reforms present a complex balance between stimulating economic growth and ensuring equitable outcomes for all taxpayers.
What Is Imputed Interest and How Does It Work?
Understand the tax implications of loans with below-market interest rates. Learn how the IRS recharacterizes these transactions to create taxable income.
How Content Creator Tax Write Offs Actually Work
Learn the framework for managing your creator business taxes, from correctly calculating expenses to maintaining the records required for accurate reporting.
Can I Use My FSA Account for My Child?
Understand the requirements for using your Health or Dependent Care FSA for your child, from defining a qualifying dependent to identifying eligible expenses.
What Is the Completeness Assertion in Accounting?
Explore the completeness assertion, a core principle for ensuring financial statements accurately reflect all transactions, assets, and liabilities without omission.
Famous Examples of Accounting Frauds
Delve into the accounting mechanisms behind famous corporate scandals. Learn how financial records can be manipulated to create a misleading picture of a company’s health.
What Is Form 8996: Qualified Opportunity Fund?
Discover the role of Form 8996 in establishing and maintaining a Qualified Opportunity Fund’s status, including key asset tests and filing rules.
Meeting PCAOB Expectations for Management Review Controls
Understand the key attributes of effective Management Review Controls to align your internal control processes with PCAOB inspection criteria.
What Is the Stock Step-Up in Basis at Death?
Explore the tax implications of inheriting assets. The step-up in basis rule resets an asset’s cost, directly influencing the capital gains tax for heirs.
What is EBITDARM and How Is It Calculated?
Explore EBITDARM, a specialized financial metric used to assess a firm’s operating performance independent of its real estate or management arrangements.
What Is ITBIS in the Dominican Republic?
An essential guide to the Dominican Republic’s ITBIS (VAT), covering the core principles and procedural requirements for business tax compliance.
What to Know About IRS Processing Delays
Understand the context behind a delayed tax refund. Our guide covers factors that impact IRS processing and the practical steps for getting clear answers.
The Rules and Requirements for 1031s
A 1031 exchange can defer capital gains, but success depends on precise execution. Explore the key structural rules and procedural steps to ensure compliance.
What If I Have Form 1095-B or 1095-C?
Forms 1095-B and 1095-C confirm your health coverage. Learn why they are informational for federal taxes but may be required for your state tax return.
How to Claim the Canada Foreign Tax Credit
Learn the framework for claiming the Canada Foreign Tax Credit, a key mechanism for ensuring fair taxation on income earned outside of Canada.