Did the Child Tax Credit Amount Go Down?
The Child Tax Credit reverted to its standard rules after a temporary expansion. Understand the current credit amount and the key factors that determine your total.
Investment and Financial Markets
Rev Proc 2017-41: Tenant Construction Allowance Safe Harbor
Understand the tax implications of tenant construction allowances under Rev Proc 2017-41. This safe harbor clarifies ownership of leasehold improvements for lessors and lessees.
Is a Patronage Refund Considered Taxable Income?
A patronage refund’s tax treatment depends on the original transaction. Learn if it is considered income, a simple price reduction, or an adjustment to an asset’s basis.
What Is the Meaning of an Outstanding Balance?
An outstanding balance is a dynamic financial figure that directly influences your interest costs and credit health, behaving differently across loans and credit cards.
Investment Property vs. Rental Property: Key Distinctions
Learn the key differences between an investment and a rental property. This distinction has significant financial and strategic consequences for owners.
Qualified Plug In Vehicle Credit: How to Qualify
Navigate the federal EV tax credit. This guide explains the interconnected eligibility rules for you, your vehicle, and the purchase to claim this incentive.
What is the Puerto Rico 1099 Equivalent?
Understand Puerto Rico’s separate tax reporting requirements for business payments, a system with key distinctions from the familiar IRS 1099 process.
How Does Property Tax on a Car Work?
Understand the financial implications of vehicle property tax, an annual charge based on your car’s assessed value and determined by local tax authorities.
Examples of the Accuracy-Related Penalty
Examine the criteria the IRS uses to apply the accuracy-related penalty, from the nature of the error to the calculation of the final amount.
How to Pay My State Taxes: Methods and Options
Paying state taxes involves several key steps. Get a clear overview of the remittance process and your options for settling your state tax liability.
FAS 107: What It Was and What Replaced the Standard
Examine the historical role of FAS 107 in financial instrument disclosure and how its foundational principles evolved into current accounting standards.
How Is the Basis of a Coverdell ESA Determined?
Understanding your Coverdell ESA basis is essential for managing the tax implications of every withdrawal and ensuring the tax-free treatment of your contributions.
Public Law 107-91: Financial and Tax Implications
An analysis of the financial and tax mechanisms in Public Law 107-91 that structured the museum’s funding and ensured fiscal accountability.
Are Tax Free Muni Bonds Really Tax Free?
Explore the nuances of municipal bond taxation. Learn how the “tax-free” benefit works and the specific situations that can create unexpected tax obligations.
Statement on Standards for Valuation Services Explained
Gain insight into the official standards governing how CPAs determine business value, ensuring a consistent and credible approach for all valuation engagements.
Rev. Rul. 82-20: Determining Worker Status
Gain insight into the IRS framework for worker status based on common law rules, helping ensure correct classification for federal tax compliance.
The PA EV Tax Credit: How the State Rebate Program Works
Learn how to get money back on your new EV in Pennsylvania. This guide explains the state’s direct rebate and how it works with federal tax credits.
Deferred Stock Compensation: Tax Rules and Payout Options
Understand the financial mechanics of deferred stock, from the unique timing of tax obligations to the regulated process of scheduling future distributions.
How Does the NRA’s Tax-Exempt Status Work?
Discover the complex financial structure behind the NRA’s tax-exempt status, including the distinct rules that govern its separate legal entities.
What Are the Item 703 Disclosure Requirements?
Understand the framework for stock buyback disclosures under SEC Item 703, from current reporting standards to the status of recent regulatory amendments.