Non-Qualified 457b Plan Rules and Limitations
Learn how a non-qualified 457b plan differs from other retirement accounts regarding asset security, early access to funds, and portability options.
Investment and Financial Markets
SEPPs: How to Make Penalty-Free Retirement Withdrawals
A SEPP plan provides penalty-free access to retirement funds before age 59½. Understand the strategic planning and strict compliance required for this IRS exception.
What Is IRS Form 945 and Who Must File It?
Clarify your tax duties for nonpayroll income. This guide covers Form 945, explaining how to report and deposit withheld federal income tax.
Accounting for Interest Income: Methods and Entries
Learn the proper accounting treatment for interest income, from the timing of its recognition to its final presentation on financial statements.
Debt to Capitalization Ratio: Calculation & Analysis
Understand a company’s financial leverage and capital structure by examining the proportion of its funding that comes from debt versus equity.
ASC 810-20: Control and Consolidation of Partnerships
Understand the nuanced criteria within ASC 810-20 for determining a controlling financial interest in partnerships and similar non-corporate entities.
What Is a Franchise Tax and Which States Have One?
Learn about the state franchise tax, a levy on a business’s existence or privilege to operate, often based on net worth rather than income.
Form 2848 vs. 8821: What’s the Difference?
Understand the key difference between granting someone power to represent you before the IRS and simply authorizing them to access your tax information.
Backdating Stock Options: Accounting, Tax, and Legal Risks
Understand how retroactively dating stock options can misrepresent corporate performance and create significant, unforeseen tax and compliance issues.
How Much Do You Get for Earned Income Credit?
The amount of your Earned Income Credit depends on your income and family profile. Learn how these factors are used to calculate your specific benefit.
How Do You Transfer an IRA Incident to Divorce?
Transferring IRA assets to a former spouse involves a specific, compliant procedure. Understand how to navigate the financial and legal requirements for a direct transfer.
Do Church Employees Pay Taxes? What to Know
Church employee tax rules depend on a key distinction: ministerial vs. non-ministerial status. Learn how this classification impacts tax obligations.
How Is Retro Pay Taxed and Why Is It So High?
The large tax amount on your retro pay is based on withholding rules, not your final tax rate. See how it balances out on your annual tax return.
GASB Statement 62: Codification of Accounting Principles
Explore GASB Statement 62’s role in consolidating foundational accounting literature into the authoritative framework for government financial reporting.
Inventory Disposal: Accounting and Tax Treatment
Learn the correct accounting and tax procedures for disposing of obsolete stock to ensure accurate financial reporting and optimize tax outcomes.
Declaring Rental Income on Your Self Assessment Return
Navigate the requirements for reporting UK rental income. This guide provides a clear framework for landlords completing a Self Assessment tax return.
How to Handle Sole Proprietorship Texas Taxes
Operating a sole proprietorship in Texas involves unique tax duties. This guide clarifies your obligations and the steps for proper filing and payment.
Tax Consequences of a Deed in Lieu of Foreclosure
A deed in lieu of foreclosure creates two separate tax events: the cancellation of debt and the transfer of property, each with its own set of rules.
IRS Publication 54: Tax Rules for Americans Abroad
For U.S. taxpayers overseas, this guide clarifies the process for meeting tax obligations, from satisfying residency requirements to correctly applying benefits.
What Is a Brother Sister Controlled Group?
Learn how shared ownership between businesses can require them to be treated as a single employer for critical tax and employee benefit plan regulations.