What Tax Deductions Apply to Oil and Gas Investments?
Gain insight into the tax framework for oil and gas ventures, including how deductions are structured and can potentially offset other forms of personal income.
Investment and Financial Markets
What Is a Reversal of an Impairment Loss?
Learn the financial reporting standards for reversing an asset impairment loss, including the specific calculation ceiling and important non-reversal rules.
Are Gifts Included in Divorce Settlements?
Whether a gift is included in a divorce settlement depends on its initial intent and, crucially, how it was managed throughout the marriage.
Rollover Distribution: What It Is and How to Do One
Moving retirement money requires a specific process. Learn the mechanics of a rollover to properly consolidate funds and preserve your savings’ tax-deferred status.
A Comprehensive Tax Deductions List for the Self-Employed
Understand the full scope of self-employment deductions to properly lower your taxable income, from direct business expenses to crucial tax adjustments.
Does the Escrow Rule Apply to Reverse Mortgages?
Explore the unique way reverse mortgages handle property charges, a system that differs from the standard escrow rule and can affect your loan proceeds.
How Much Tax Do You Pay on an Annuity Withdrawal?
The tax on an annuity withdrawal is based on more than just your income bracket. Learn how contributions, earnings, and timing impact your final tax liability.
Section 831: Small Insurance Company Tax Election
Explore the alternative tax treatment for qualifying small insurance companies that modifies their tax liability to be based on investment income, not premiums.
What Is the Massachusetts Corporate Tax Rate?
The Massachusetts corporate tax is more than a single rate. Understand the state’s unique excise tax, a multi-part calculation for determining final liability.
An Overview of Lake County Indiana Taxes
Navigate the Lake County, Indiana tax system. This guide clarifies your responsibilities, helps you manage your liability, and explains key annual procedures.
What Are the Requirements to Pay Estimated Taxes?
Understand the requirements for paying estimated taxes on income not subject to withholding and how to calculate your payments to maintain compliance with IRS rules.
Can My Spouse Roll Her 401(k) Into My IRA?
Retirement accounts are legally individual, a key factor in managing a spouse’s 401(k). Understand the rules for rollovers and the distinct options for a spouse.
What Is the Anticipatory Assignment of Income Doctrine?
Learn the tax principles that distinguish between a valid gift of an asset and an invalid attempt to shift income tax liability to another person.
2021 HSA Contribution Limits and Requirements
Review the specific 2021 IRS guidelines for HSAs, detailing the contribution amounts and the health plan deductibles required for eligibility that year.
How to Get a Tax Exempt Certificate Number
Learn how to secure a state-issued sales tax exemption for your organization or business and properly manage the compliance responsibilities involved.
Why Do Companies Have Different Fiscal Years?
Discover how a company’s choice of a fiscal year provides a more accurate financial picture by aligning reporting with its specific business model and rhythm.
What Is Form 9814 and Who Needs to File It?
Understand Form 9814, the request nonresident aliens attach to a W-8BEN to obtain a TIN solely for claiming tax treaty benefits.
What Is the South Carolina Tax Deadline?
Understand the process for meeting your South Carolina tax obligations, from key due dates to payment procedures, to ensure you file and pay correctly.
Can a Business Refuse a Tax-Exempt Sale?
Navigating requests for tax-exempt sales requires understanding your rights and responsibilities. Explore key considerations for businesses to ensure compliance and avoid liability.
Do You Have to File a W-2 for Payments Under $500?
Discover when a W-2 is required for an employee, regardless of the payment amount. The filing obligation is determined by specific rules, not just a dollar threshold.