Do Retirement Accounts Count as Assets?
Retirement funds are considered assets, but how they are defined and protected changes significantly based on the specific financial or legal context.
Investment and Financial Markets
What Happens If I Claim Exempt on My Bonus Check?
Claiming exempt on a bonus provides more cash upfront but defers your tax liability. Understand the full financial outcome before adjusting your withholding.
Using Rev. Rul. 82-45 to Pay Shareholder Expenses
Explore the framework of Rev. Rul. 82-45, which allows a target firm to pay shareholder expenses as a redemption, thus preserving a C-reorganization’s tax-free status.
How Do I Know If I Have to File City Taxes?
Filing city income taxes depends on a unique set of local rules. Learn how to assess your specific situation and navigate your municipal tax duties.
Montana Tax Rates for Individuals and Businesses
Explore Montana’s tax system for residents and businesses, defined by its income and property tax structure in the absence of a statewide sales tax.
March 15 Taxes: Business and S-Corp Deadline
For many businesses, the tax deadline arrives on March 15. Understand the specific filing process for pass-through entities and its role in overall compliance.
What Is the 4980H(b) Penalty for Employers?
For large employers, offering health insurance is only part of ACA compliance. Understand how plans failing affordability or value tests can result in penalties.
IT-201 Resident Income Tax Return Instructions
Find comprehensive instructions for New York residents filing Form IT-201. This resource helps you navigate the state tax return process accurately.
How to Convert an IRA to a Roth IRA
Considering a Roth IRA conversion? Learn the essential rules for calculating the tax impact and the correct procedures for reporting the transaction to the IRS.
ERISA Audits: When Is One Required for Your Plan?
An ERISA audit is a key compliance step for many retirement plans. Clarify the audit requirement for your plan and learn how to navigate the process.
How Are LLCs Taxed in Indiana?
Explore how an LLC’s federal tax election shapes its Indiana state tax obligations and the procedures for maintaining compliance.
How to Find and Calculate Deferred Revenue
Understand the proper accounting treatment for customer prepayments and why they are recorded as a liability before becoming earned income.
What Is a 2632(c) Election for GST Exemption?
The tax code has default rules for allocating GST exemption to trusts. Learn how specific provisions provide control over this process for strategic estate planning.
How to Defer Capital Gains Without a 1031 Exchange
Explore methods for deferring capital gains tax from an asset sale without a 1031 exchange, using structured reinvestment and payment arrangements.
What Is Section 361 in Corporate Reorganizations?
Learn how a key tax provision enables strategic corporate reorganizations by allowing for the tax-deferred transfer of assets between participating companies.
What Are Treaty Benefits and How Do You Claim Them?
Navigate the complexities of cross-border taxation. This guide explains the function of tax treaties and the procedures for applying their benefits.
What Is Qualified Nonrecourse Financing?
Learn how certain real estate loans allow investors to deduct losses beyond their direct investment, a key exception to typical nonrecourse financing rules.
Section 333: The Repealed One-Month Liquidation Rule
Understand the policy shift in corporate tax by examining the repealed one-month liquidation rule and the modern double-taxation system that replaced it.
Notice 2023-64: Interim Guidance for the Corporate AMT
IRS Notice 2023-64 offers key clarifications for the Corporate AMT, providing interim guidance on the complex calculation of financial statement income.
If You Make $12,000 a Year, How Much Is Taxed?
While you may not owe federal income tax on a $12,000 salary, other taxes still apply. Learn how your total tax liability is calculated based on key factors.