Are Medicare Premiums Deductible for Self Employed?
Discover how the self-employed health insurance deduction applies to your Medicare premiums, reducing your adjusted gross income without needing to itemize.
Discover how the self-employed health insurance deduction applies to your Medicare premiums, reducing your adjusted gross income without needing to itemize.
Learn to translate financial statements into a clear view of business health by assessing performance from multiple profitability perspectives.
Understand the distinction between taxable and non-taxable sick pay. Learn how to verify your W-2 reflects these payments and their tax implications correctly.
For service members, combat pay has unique tax rules that extend beyond a simple exclusion, influencing your overall financial and tax planning.
Learn the essential accounting requirements for evaluating and adjusting the carrying value of intangible assets to maintain accurate financial reporting.
Deducting self-employed car repairs depends on your overall vehicle expense approach. Learn how this choice impacts your ability to claim individual costs.
Giving a financial gift involves more than just a yearly limit. Understand the interplay between annual and lifetime exemptions and when gift tax rules don’t apply.
Understand the role of Form 1065, the informational tax return that details a partnership’s finances and passes income and deductions to its partners.
Understand the framework of AS 1015, which structures the essential dialogue between auditors and audit committees to ensure effective financial oversight.
While the dependent exemption was eliminated, you can still claim tax benefits for a dependent with an ITIN. Learn the current rules and which credits apply.
Explore the tax framework for life insurance companies. Understand the calculations for reserves and income needed for an accurate Form 1120-L tax return.
Gain a clear understanding of the CECL accounting standard. See how historical data, forecasts, and qualitative factors are combined to estimate lifetime credit losses.
Explore the distinct tax framework for an estate or trust’s charitable deduction, focusing on the nuanced requirements for correctly calculating and reporting on Form 1041.
A guide to structuring a management fee waiver, detailing the tax motivations, the IRS perspective, and the essential steps for a compliant arrangement.
Discover how consortium relief allows associated UK companies to transfer tax losses, leveraging corporate ownership to achieve greater tax efficiency.
Section 223 of the tax code governs Health Savings Accounts. This overview explains the key IRS rules for managing your account and its tax benefits.
A successful investment strategy considers the impact of taxes. Learn how the timing, location, and type of your investments affect your overall returns.
This guidance simplifies income statement presentation by eliminating the extraordinary items category and integrating unusual events into continuing operations.
Understand the criteria for receiving Social Security benefits. See how eligibility is determined by your work history or your relationship to another worker.
The “$550 tax credit” commonly refers to a 2022 NYS homeowner rebate. This article explains the specific criteria and mechanics of this one-time state program.