Wisconsin Property Tax Exemption for Seniors
Discover financial assistance for Wisconsin seniors’ property taxes. Learn how state programs can provide direct relief or allow for the deferral of payments.
Investment and Financial Markets
How Revenue Code 624 Affects Partnership Audits
The IRS now audits partnerships at the entity level. Discover the procedural framework and its implications for how tax adjustments are determined and paid.
Does Iowa Have an Estate Tax or Inheritance Tax?
Get clarity on inheriting in Iowa. While the state inheritance tax is gone, federal estate tax and income tax on certain assets may still apply.
Financial Statement Footnotes Explained
Go beyond the summary figures. Financial statement footnotes provide the full story, detailing the accounting judgments and future obligations shaping a company’s results.
CAMT Guidance for Calculating Corporate Tax Liability
A technical guide to the Corporate Alternative Minimum Tax, detailing the process for adjusting financial income to determine the final tax and ensure compliance.
Can You Deduct Work Clothes on Your Taxes?
Learn the specific IRS criteria that separate a deductible uniform from a non-deductible dress code and how your employment type affects eligibility.
What Is Revenue Code 259 for Intensive Care?
Discover the role of Revenue Code 259, the billing code used for intensive care stays that fall outside of specialized ICU classifications.
What Are Level 1 Assets in Financial Accounting?
Understand how financial accounting uses quoted market prices to value the most liquid assets, ensuring greater transparency and reliability in financial statements.
Why Are My W-2 Wages in Box 1, 3, and 5 Different?
The wage figures on your W-2 vary by design. Learn how your total compensation is adjusted based on different rules for income and payroll taxes.
The Net Cash Provided by Operating Activities Formula
Go beyond net income to calculate the actual cash generated by a company’s core operations and assess its fundamental financial stability.
Solo 401k Rules for a Single Member LLC
Understand the framework for a Single Member LLC to implement a Solo 401k, including how your entity’s tax structure dictates contribution strategies.
PL 111-5: The American Recovery & Reinvestment Act
An overview of the American Recovery & Reinvestment Act, detailing its multi-faceted approach to economic stimulus and its framework for public accountability.
Do International Students Pay Taxes on Scholarships?
Learn how U.S. tax law applies to scholarship funds for international students, from determining taxable amounts to fulfilling reporting obligations.
What Is Rule 412? The Federal Rape Shield Law
Explore Rule 412, the federal law governing when an alleged victim’s sexual past can be used in court and the strict procedures required for its admission.
When Can I Move Into a 1031 Exchange Property?
Learn how to properly convert a 1031 exchange property into a primary residence, including the key requirements for timing and use to protect your investment.
IRS Form 709: What Are the Filing Requirements?
Learn when a financial gift requires filing Form 709. This guide clarifies how to report gifts against your lifetime exemption, often without an immediate tax payment.
Rev Rul 93-80: Partnership Interest Gain and Loss
Understand Rev Rul 93-80’s framework for characterizing gain or loss on a partnership interest by analyzing the distinct tax impact of liability relief.
Stock Redemption 1099 Reporting Requirements
A stock redemption’s tax classification dictates corporate 1099 reporting. Learn how to properly categorize the transaction to ensure IRS compliance.
Does 401k Automatically Stop at the Limit?
Understand the mechanics of 401k contribution limits and your role in managing them to prevent potential over-contribution errors and tax issues.
The Tax Implications of a 401k Roth Conversion
Converting a traditional 401k to a Roth triggers an immediate tax liability. Understand the financial details and strategic considerations for this retirement move.