Common W2 Box 14 Codes and What They Mean
Understand the employer-specific entries in W-2 Box 14. This guide clarifies these non-standard amounts and their role in your annual tax filing.
Investment and Financial Markets
Non Taxable Account Types for Retirement and Savings
Explore accounts that offer tax-free growth and withdrawals. Learn how this key distinction from tax-deferral helps you fund future goals more efficiently.
Can the IRS Access Your Bank Account?
The IRS can access bank funds for tax debt, but only after a specific legal sequence of notices and taxpayer opportunities to respond has been exhausted.
How Do You Get the Federal EV Tax Credit?
Learn the criteria for both buyers and vehicles to claim the federal EV tax credit, either as an immediate rebate or when filing your annual taxes.
Tax Code 62: Defining Your Adjusted Gross Income
Explore how the tax code allows for specific subtractions from your gross income to arrive at a crucial starting point for determining your tax liability.
What Is the Tax Loss Harvesting Wash Sale Rule?
Selling securities for a tax loss? The IRS wash sale rule sets important limits. See how its application can defer or even permanently disallow your claimed loss.
What Is a Dependent Agent and Its Permanent Establishment Risk?
Understand how the structure of your relationship with an international agent can unintentionally establish a taxable presence in a foreign country.
What Is the Meaning of Cost Accounting?
Learn how cost accounting provides the internal financial data managers use to analyze operational performance and guide strategic business decisions.
Saving Gig Economy Taxpayers Act and 1099-K Tax Rules
The Form 1099-K reporting threshold has been delayed, but your tax obligations as a gig worker have not. Understand the current rules and your actual tax liability.
What Is an Asset Tax and What Are Its Main Forms?
Gain a clear overview of how assets are taxed. This guide distinguishes between levies on ongoing ownership, profitable transactions, and wealth transfers.
Revenue Ruling 63-26: Ordinary Income or Capital Gain?
Unpack Revenue Ruling 63-26, which defines the tax character of contract cancellation payments based on what the payment fundamentally represents.
What the Anti-Injunction Act Means for Your Tax Dispute
The Anti-Injunction Act sets the procedural framework for tax disputes. Learn how this law determines the proper legal channels for challenging the IRS.
What Are Substantiated Employee Business Expense Reimbursements?
Gain insight into the rules that define how employee business expenses are reimbursed tax-free and the key record-keeping needed for compliance.
What Does Reclass Mean in Accounting?
Learn how reclassification adjusts financial data by moving a value to its proper account, a key process for ensuring accurate and useful reporting.
What Is a Tax? A Look at Its Purpose and Types
Discover the essential framework of taxation, including its role in funding government services and the principles guiding how it is collected.
What Is 100 Percent Bonus Depreciation?
Bonus depreciation is an evolving tax deduction for business assets. Understand the critical factors, from asset qualification to the differences in federal and state tax law.
401(k) vs. IRA: A Roth and Traditional Comparison
Clarify the key differences between employer-sponsored and individual retirement plans and learn how their distinct tax structures inform an effective savings strategy.
What Is Unamortized Cost and How Is It Calculated?
Unamortized cost represents the remaining economic benefit of an intangible asset, linking its initial cost to its systematic allocation over time.
Is the TSP a 457 Plan? Key Differences to Know
Discover the core differences between TSP and 457 plans. Understanding their separate frameworks is key to optimizing your public sector retirement strategy.
Can You Use Your HSA for Dental Expenses?
Apply your HSA funds toward dental expenses by understanding the difference between eligible medical treatments and non-qualified cosmetic procedures.