PA Schedule O: What to Deduct and How to File
A guide to the purpose and process of PA Schedule O for reducing your state tax obligation through specific, eligible deductions.
Investment and Financial Markets
What Are Qualified Retirement Plans Under Section 4974(c)?
Explore how IRC Section 4974(c) connects specific retirement accounts to required distribution rules and the tax consequences of a withdrawal shortfall.
A Deep Dive Into Virginia’s Sales Tax Rules
Explore the foundational rules of Virginia’s sales tax, including how it applies to transactions and the compliance process for businesses.
How Does a Section 83(b) Election Work?
Learn how a Section 83(b) election lets you choose to be taxed on compensatory equity at its grant date value, rather than its value when it vests.
Do I Have to File Robinhood Taxes If I Lost Money?
Losing money on Robinhood investments doesn’t eliminate your tax reporting duties. Discover why you must file and how it can impact your overall tax situation.
Who Has a 5471 Filing Requirement?
Determine your Form 5471 filing requirement. This guide clarifies how U.S. tax law assesses direct and indirect ownership in a foreign corporation.
Are Lease Liabilities Current or Noncurrent?
A total lease liability must be allocated on the balance sheet. Learn the principles for correctly classifying this obligation into current and noncurrent portions.
Can I Max Out My SIMPLE IRA and Traditional IRA?
Learn how participating in a SIMPLE IRA influences your overall retirement contribution strategy and the tax advantages of a Traditional IRA.
How to Amortize a Taxable Bond Premium
Understand the tax benefits of amortizing a bond premium, a method to reduce your taxable interest income and adjust your investment’s cost basis.
What Is a 109x Form? An Overview of 1099 Forms
The term “109x” refers to the IRS 1099 series of information returns. Understand their role in reporting non-wage payments for both payers and recipients.
Section 3121: Defining Wages for FICA Tax Purposes
Explore the framework of Section 3121 to understand how the classification of payments and workers determines FICA tax obligations.
Schedule CA 540NR: Line-by-Line Instructions
This guide helps California nonresidents and part-year residents accurately adjust federal income to meet state tax law using Schedule CA (540NR).
Using Form 8949 Code L for Nondeductible Losses
Navigate the tax reporting for nondeductible investment losses. See how to use Form 8949 to accurately adjust the figures provided by your broker.
What Happened to the 33 Percent Federal Tax Bracket?
Federal tax brackets are not static. Explore how recent changes to tax law impact the progressive tax system and how your income is taxed across different rates.
Does Washington State Have an Income Tax?
While Washington lacks a general income tax, residents face a distinct mix of other state taxes and must still fulfill their federal tax obligations.
What Is the Accelerating Charitable Efforts Act?
The proposed Accelerating Charitable Efforts Act reforms charitable giving by connecting donor tax deductions to distribution timelines.
Is It Better to Take RMD Monthly or Annually?
Your RMD withdrawal schedule involves a trade-off between potential growth and income stability. Find a framework for making the right financial decision.
How Are LLCs Taxed in North Carolina?
Discover how an LLC’s federal tax status shapes its North Carolina tax obligations and learn the essential compliance steps for your business.
How Does Inflation Reduce Government Debt?
Inflation can decrease the real burden of a nation’s debt, but this complex interaction involves significant trade-offs and doesn’t apply to all obligations.
What Is the Tennessee Dividend Tax Rate?
Understand Tennessee’s tax landscape for investors following the repeal of the Hall Income Tax, which formerly applied to dividend and interest income.