Revocable or Irrevocable Trust: Which Is Right for You?
Explore how your control over assets impacts a trust’s effectiveness for tax planning, asset protection, and achieving your long-term financial goals.
Investment and Financial Markets
The Unified Credit Sunset for Gift and Estate Taxes
The lifetime gift and estate tax exemption is scheduled for a significant reduction. Explore the mechanics of this change and its strategic estate planning implications.
Can I Claim My Dad as a Dependent?
Learn the IRS criteria for claiming your dad as a dependent. This guide covers the essential requirements beyond just providing financial assistance.
What Is the IRS Depreciation Life for an RV?
Learn the tax principles for depreciating an RV as a business asset. Understand how your business use percentage and other key factors determine the available deductions.
What Is Form 1095-A and Why Is It Needed for Taxes?
Learn how Form 1095-A connects your Marketplace health insurance to your tax return, ensuring you accurately account for your premium tax credit.
What Is the Maximum 403b Contribution?
Your maximum 403b contribution is not a single number. Learn how the different limits are determined by your age, tenure, and employer contributions.
What Replaced W2 Exemptions on the New W-4 Form?
The system of W-4 allowances has been replaced. Understand how the current Form W-4 uses your financial details for a more accurate tax withholding calculation.
Revenue Ruling 79-59 for Valuing Blocks of Stock
Explore the nuanced valuation principles for closely held stock, focusing on how the rights and limitations of an ownership block affect its value for tax purposes.
What Is Proportionate Consolidation in Accounting?
Learn how an accounting method for joint ventures integrates a share of assets and liabilities, impacting a company’s reported financial position and performance.
What Was the Section 956A Excess Passive Assets Rule?
Understand the repealed Section 956A, a former U.S. tax rule designed to prevent tax deferral by treating excess passive assets in foreign corporations as income.
Can Bonus Depreciation Be Carried Forward?
Explore the relationship between large upfront deductions like bonus depreciation and the resulting tax attributes that can be used in later years.
Do I Have to Pay Tax If I Receive Money From Abroad?
Receiving funds from abroad creates U.S. compliance duties. Learn how to determine if money is taxable income or a reportable transfer to meet your obligations.
AS 1000: Auditor General Principles and Responsibilities
Explore AS 1000, the foundational PCAOB standard that defines the professional mindset and performance required of public company auditors.
What Is Revenue Code 942 for Household Employee Taxes?
Form 942 is obsolete, but the tax obligations for household employers remain. Learn the modern process for reporting and paying these employment taxes.
How Is Additional Medicare Tax Calculated?
Navigate the 0.9% Additional Medicare Tax. Learn how income, filing status, and employer withholding interact to determine your final tax liability.
How to Claim the Wisconsin Child Care Tax Credit
Understand the process for claiming the Wisconsin child care credit, a state benefit that works with the federal credit to lower your tax liability.
OECD Pillar 1 and Pillar 2: The Tax Rules Explained
Learn how international tax reform changes where large companies are taxed and establishes a global minimum rate, creating new compliance obligations.
Chapter 3 vs. Chapter 4 Withholding: Key Differences
Navigate U.S. withholding on foreign payments by understanding the distinct goals of tax collection versus information reporting compliance regimes.
401k Options for the 1099 Employee
Choosing a retirement plan is a key financial decision for the self-employed. Understand how plan designs impact your contribution limits and overall strategy.
Is Inventory an Expense or a Current Asset?
The accounting treatment of inventory shifts depending on its status. Explore how this dual classification impacts a company’s reported value and profitability.