Tax Form SSA-1099/SSA-1042S: How to Report Benefits
Your Social Security benefit statement (SSA-1099/SSA-1042S) is a key part of your tax filing. Learn how to correctly interpret and apply this data to your return.
Investment and Financial Markets
How to Calculate Earnings on Excess HSA Contributions
Ensure your Health Savings Account remains compliant after an over-contribution by properly accounting for the net income attributable to the excess funds.
What Is CPA Tax Planning and How Does It Work?
Understand how professional tax planning moves beyond compliance to become a key part of your long-term financial strategy and decision-making.
What Are Operating Costs and What Do They Include?
Learn how daily business expenses reveal core profitability and efficiency, distinct from the costs of production or long-term asset investments.
What the Payroll Tax Increase Means for You
Gain insight into how annual shifts in Social Security’s tax structure can affect your finances and your company’s payroll obligations.
How to Find the Correct Sales Tax Rate for an Address
Learn the principles for determining an accurate sales tax rate, which often varies by specific street address rather than just a city or ZIP code.
When Is a Stock Dividend Considered Taxable?
Understand the tax implications of a stock dividend. While often nontaxable, the specifics of the distribution determine if you must report income or adjust cost basis.
What Is a Profit Sharing Contribution?
Profit sharing plans provide a flexible way for employers to make discretionary contributions to employee retirement accounts, beyond regular salary or matching.
Qué es el Formulario W-7 y Cómo Llenarlo
Obtenga su ITIN para cumplir con sus obligaciones fiscales. Nuestra guía detalla el proceso del Formulario W-7 para una solicitud exitosa.
Are Capital Credits Considered Taxable Income?
Understand the tax implications of capital credit distributions. Learn when these payments are non-taxable refunds versus when they must be reported as income.
How IRC Section 1274(d) Determines the Applicable Federal Rate
Learn how federal tax rules impute interest on seller-financed debt for property, affecting the tax obligations for both the buyer and the seller.
What to Watch Out for When Using Financial Ratios
Go beyond surface-level ratio analysis. This guide explains the crucial context and assumptions that are necessary for an accurate financial assessment.
Making a 401k Withdrawal for Medical Expenses
Understand the financial considerations and procedural requirements for using retirement savings to cover significant, unreimbursed healthcare costs.
What Is Interest Income for Tax Purposes?
Not all interest income is taxed the same. Learn the tax treatment for various sources and how to properly report these earnings on your annual tax return.
What Is the TEFRA D Medicaid Option for Children?
Discover the framework of the TEFRA D Medicaid option, which allows children with complex needs to access coverage regardless of parental finances.
Federal Taxation of Partnerships and Partners
Gain insight into the federal tax framework for partnerships, focusing on how income flows to owners and the mechanics that determine tax outcomes upon sale or distribution.
Maryland Administrative Release 6 Explained
An overview of how Maryland adjusted income sourcing and tax credit rules for remote workers under Administrative Release 6 during the pandemic.
What Are the Roth IRA Rollover Rules?
A Roth IRA rollover offers future tax-free withdrawals but requires careful planning to manage the immediate tax impact and adhere to strict timelines.
What Is the Sales Tax in South Dakota?
Gain a clear view of South Dakota’s sales tax system, including how state and local rates interact and the wide scope of taxable services.
An Overview of Taxes in Montgomery County, MD
Get a clear breakdown of the local tax system in Montgomery County, MD, including how obligations are calculated, paid, and potentially reduced.