Section 5051 IRC: The Federal Excise Tax on Beer
Navigate federal beer excise tax compliance under IRC 5051. Understand how tax rates and operational removals determine your final liability and reporting.
Investment and Financial Markets
Husband and Wife LLC in a Non-Community Property State
Explore the key legal and tax decisions for spouses forming an LLC in a common law state to establish clear ownership and ensure business continuity.
What Is a Section 721(c) Partnership?
Learn how Section 721(c) modifies standard tax rules for U.S. persons contributing appreciated property to partnerships with related foreign partners.
IFRS 16 vs. ASC 842: Key Differences in Lease Accounting
While IFRS 16 and ASC 842 both bring leases onto the balance sheet, their differing approaches can significantly alter a company’s financial profile.
What Is After-Tax Profit Margin & How Is It Calculated?
Learn how a key financial ratio reveals a company’s profitability and provides the necessary context for meaningful performance analysis.
Federal Tax Benefits for 100 Percent Disabled Veterans
A 100% VA disability rating provides unique federal tax considerations. Learn how this status affects your income and can help lower your overall tax burden.
What Is an IRS CP 575B Notice and What Should I Do?
Your IRS CP 575B notice confirms your Employer Identification Number (EIN), a foundational element for your business’s financial and legal operations.
How Do I File Back Taxes With the IRS?
Filing past-due tax returns with the IRS is a manageable process. This guide provides a clear path to becoming compliant and resolving your tax situation.
IRS Error Code 101: How to Fix a Rejected Tax Return
An IRS Error Code 101 rejection is caused by a data mismatch. Learn how to verify your information and successfully resubmit your e-filed tax return.
How to Report Tip Income for Tax Purposes
Fulfilling your tax obligations on tip income goes beyond your annual return. Learn the complete framework for proper reporting and compliance.
What Was ASC 605 Revenue Recognition?
Understand the historical framework of ASC 605, the former U.S. GAAP revenue standard, and the rationale for its transition to a modern, unified approach.
ISB 3: Employment Discussions with an Audit Client
ISB Standard 3 provides a framework for preserving auditor independence when employment discussions arise with a client, detailing key procedural safeguards.
What Is the Qualified PSO Exclusion and How to Claim It?
Retired PSOs can lower their federal tax bill by excluding insurance premiums from their pension income. Understand the specific rules to correctly claim this benefit.
Revenue Ruling 98-15 and Non-Profit Joint Ventures
Explore the IRS model for non-profit joint ventures with for-profit entities, focusing on how agreement structure preserves charitable purpose and tax exemption.
Indefinite-Lived Intangible Assets: Accounting Treatment
Understand the specific accounting principles for assets like goodwill and trademarks that are not amortized, ensuring their carrying value reflects economic reality.
IRS Section 48: The Energy Investment Tax Credit
Navigate the Section 48 Investment Tax Credit for energy projects. Understand how labor rules impact credit value and explore new monetization pathways.
Does Montana Tax Social Security Benefits?
Learn if your Social Security is taxable in Montana. The state’s approach is based on your total income, with specific provisions that can lower what you owe.
Comprehensive Tax Document Checklist for Filing
A smooth tax season starts with good preparation. Our guide helps you gather every necessary form and statement for a complete and accurate return.
An Overview of the IRS Gift Tax Rules
Navigate the complexities of giving significant gifts. This overview clarifies how federal tax law applies to your generosity and what steps may be required.
Topic 99-10: Accounting for Government Assistance
Learn how for-profit entities account for government aid under Topic 99-10, from selecting an accounting model to its impact on financial reporting.