Amos v. Commissioner: A Challenge to IRS Regulations
An examination of *Amos v. Commissioner*, where a long-standing IRS tax regulation was invalidated based on its procedural history, not its substance.
Investment and Financial Markets
Examples of Direct Costs in Business
Understand how to trace expenses directly to goods and services. This key insight helps businesses accurately calculate profitability and inform pricing strategies.
ASU 2017-11: Down Round Features & Redeemable Instruments
ASU 2017-11 simplifies the accounting for certain financial instruments by altering their classification and clarifying their effect on financial reporting.
What to Do About an IRS Notice 1462 Letter
Understand the purpose of IRS Notice 1462, a mandatory withholding instruction, and the distinct procedures for employers and affected employees.
Primary Tax Strategies for Real Estate Investing
Effective real estate investing requires more than property management. Learn how to navigate the tax code to improve cash flow and long-term financial outcomes.
Why Are My PTO Payout Taxes So High?
Your PTO payout is taxed differently than regular pay. Discover why more is withheld upfront and how this amount is reconciled on your annual tax return.
A Breakdown of Taxes on Airline Tickets
Discover the components of your airfare beyond the base price. This guide explains the mandatory charges and clarifies where the money is directed.
Idaho vs. California Taxes: A Detailed Comparison
Explore the divergent tax systems of Idaho and California and learn how their structural differences create distinct financial outcomes for residents and businesses.
Are Business Development Expenses Tax Deductible?
Differentiating between a business investment and a tax-deductible expense is key. Learn the IRS standards for substantiating your growth activities.
Purchased Goodwill: Calculation, Accounting, and Tax
Discover how purchased goodwill is quantified in a business acquisition and how its treatment diverges between financial reporting and tax regulations.
How Does the Grenada Tax System Work?
Explore Grenada’s tax framework, which features no capital gains, inheritance, or wealth tax, and applies only to income earned within the country.
What Is ASC 740? The Standard for Accounting for Income Tax
Understand the principles of ASC 740, the GAAP standard for income tax accounting, and how it reconciles book income with tax law on financial statements.
How Does a Tax Sale Work in Pennsylvania?
Understand the legal steps of a Pennsylvania tax sale, from owner notification to how a property’s existing debts and post-sale redemption rights are handled.
Revenue Ruling 79-65: When to Report Credit Card Income
Learn the IRS guideline for when cash-basis taxpayers report income from credit cards, a rule based on the right to payment, not the receipt of cash.
What Is Revenue Code 921 for Individual Accommodations?
Learn how billing codes distinguish between private rooms for medical need versus patient comfort and the impact this has on claim forms and reimbursement.
AU-C Section 230: Audit Documentation Requirements
Explore AU-C Section 230, which establishes the professional standard for creating a defensible audit record that supports the final report.
How to Find and Claim Last Minute Tax Credits
Learn how to reduce your tax liability with steps you can take before filing, from making new contributions to reviewing past expenses for missed savings.
Employee Rebate Credit: What It Is and How to Claim It
Understand the complete framework of the Employee Retention Credit, from its core rules to the specific steps for a compliant and accurate claim.
What Is the Capital Gains Tax in Indiana?
Understand how Indiana’s flat-rate tax system applies to your investment profits and how unique state-specific rules can affect your final tax liability.
Does Washington DC Have State Income Tax?
Explore the unique tax structure of the District of Columbia, where residency, not place of work, determines your local income tax liability.