Tax Treatment for the Sale of a Vacation Home
Selling a second home has specific tax consequences. Learn how its history of personal and rental use influences the final tax calculation on your gain or loss.
Investment and Financial Markets
How the Small Tax Case Procedure Works
Understand the U.S. Tax Court’s streamlined and informal path for resolving smaller IRS disputes, a process that results in a final, non-appealable decision.
6418 Proposed Regulations for Transferring Tax Credits
Proposed regulations under Sec. 6418 establish the critical procedural and tax framework for the sale of eligible clean energy credits.
Your Responsibilities for Wisconsin Business Taxes
Effectively manage your Wisconsin business tax duties. Understand the complete compliance lifecycle, from initial assessment to ongoing responsibilities.
ASC 926: Accounting for Films and Entertainment
Understand the specialized accounting principles of ASC 926, which standardizes financial reporting for the distinct lifecycle and economics of film assets.
What Are Net Contributions and Why Do They Matter?
Knowing your basis—the money you’ve put in vs. its growth—is essential for understanding the tax consequences of any withdrawal.
Item 105 Risk Factor Disclosure Requirements
Understand the framework for Item 105 risk disclosures, focusing on how to translate internal assessments into clear, material information for investors.
How Much Can You Put Into a 403b Per Year?
The amount you can contribute to a 403(b) isn’t one simple number. Learn how your personal limit is shaped by age, years of service, and other retirement plans.
ASU 2022-04: Supplier Finance Program Disclosures
This guide explains ASU 2022-04, which alters reporting for supplier finance programs to provide greater transparency into a company’s liquidity and obligations.
Revenue Ruling 2009-13 and the Transfer-for-Value Rule
Revenue Ruling 2009-13 clarifies how a trust’s tax status affects the transfer-for-value rule, offering key guidance for life insurance in estate planning.
Are Federal Income Taxes Really Voluntary?
Explore the legal framework of the U.S. tax system and learn why “voluntary compliance” refers to the method of self-assessment, not a choice to pay.
The Illinois 529 Tax Deduction: How It Works
Explore the mechanics of the Illinois 529 tax deduction. Learn how to strategically use contributions to reduce your state tax liability year after year.
The 3 Accounting Statements and How They Connect
See how a company’s performance, value, and cash position are not separate figures, but parts of a single, interconnected financial story.
How Much to Contribute to Health Savings Account?
Find your personal HSA contribution amount by looking beyond the standard limits to account for your health plan, employer funds, and eligibility timing.
What Qualifies as a Capital Home Improvement?
Learn the financial difference between a home repair and a major improvement to properly account for your projects and lower your tax obligation when you sell.
Rebate vs. Refund: What’s the Difference?
Is it a rebate or a refund? The difference impacts who pays you and why. Explore the financial distinctions between these common consumer transactions.
Advance Pricing Agreements: What They Are and How to Get One
Secure tax certainty for cross-border transactions with an Advance Pricing Agreement. Learn the structured process for establishing a formal transfer pricing accord.
What Is the 5-Year Rule for Trusts?
Learn how the timing of your financial decisions can impact eligibility for long-term care aid and how to navigate complex asset protection rules.
Can You Transfer a Pension to a 401k?
Discover the conditions and financial implications of moving pension funds into a 401(k) to make an informed choice for your retirement savings.
W2 Box 14 Descriptions: What Do They Mean?
Understand W-2 Box 14, an informational space for various employer-specific items. Learn how to interpret these entries and their tax implications.