IRS Guidelines for Your Health Savings Account
Navigate the essential IRS guidelines for your Health Savings Account, from funding and spending rules to annual tax reporting requirements.
Investment and Financial Markets
Who Needs to File the Schedule S Tax Form?
Learn how nonresident aliens use Schedule S to claim a tax treaty exemption for personal services income when filing their required Form 1040-NR tax return.
How the Estate and Gift Tax Exemption Works
Learn how estate and gift taxes are linked by a single, unified exemption that impacts the tax-free transfer of assets during your lifetime and at death.
SOP 98-1 Is Superseded: What Replaced This Guidance?
SOP 98-1’s principles have evolved. Learn the current financial reporting for software costs, from traditional development to modern service-based arrangements.
Prorated Credits: How They Work for Taxes and Billing
Understand how full costs and credits are proportionally adjusted. This guide explains the simple calculation for figuring out partial amounts based on time or usage.
Can I Deduct Medical Copays on My Taxes?
Medical copays can be part of a larger tax deduction. Learn how your total annual medical spending and income level determine if you can claim this tax benefit.
Is Social Security Considered Income for Medicaid?
Learn how Social Security benefits are counted toward Medicaid eligibility. Explore the financial assessment process and discover options for meeting requirements.
The Massachusetts Child and Family Tax Credit
Understand the nonrefundable MA Household Dependent Tax Credit, a state benefit for those supporting children, seniors, or disabled family members.
Do Medical Residents Pay Income and FICA Taxes?
Explore the tax implications of a medical residency. Learn why your compensation is treated as employee wages and how this status affects your tax liability.
Do W-9s Expire and When Do You Need a New One?
A Form W-9’s validity is tied to the accuracy of its information, not an expiration date. Understand the specific changes that require a new submission.
Can I Get a W2 and 1099-NEC From the Same Employer?
Understand the valid scenarios for receiving both a W-2 and 1099-NEC from one employer and learn the distinct tax obligations for each type of income.
What Is a Dividend Trust and How Does It Work?
Understand how a dividend trust functions as a legal vehicle to hold assets, direct income to beneficiaries, and manage its unique tax implications.
What Tax Write Offs Can Teachers Claim?
Eligible educators can deduct unreimbursed classroom expenses. Learn the specific requirements and procedural steps for claiming this above-the-line tax benefit.
Spousal IRA Income Limits and Contribution Rules
A Spousal IRA allows a married couple to save for a partner with little income. Learn how your combined earnings affect which type of account you can use and deduct.
What Is the Section 179C Election for Refineries?
Small business refineries can leverage the Section 179C tax provision to immediately expense certain capital costs for modernization or compliance.
Global Taxation: Key Systems and Modern Tax Rules
Discover the principles determining how countries tax international income and the evolving rules designed to prevent tax avoidance and ensure coordination.
What Is the Presidential Tax Transparency Act?
Explore the federal law that transforms the tradition of presidential tax disclosure into a legal requirement for public and congressional oversight.
What Is the Tax Rate on 401k Withdrawals After 65?
The tax on 401(k) withdrawals after 65 is not a flat rate. Understand the key factors that determine your actual tax liability in retirement.
IRA CD Withdrawal Rules After 59 1/2
Withdrawing from an IRA CD after age 59 1/2 requires balancing IRS regulations with your financial institution’s policies on CD maturity.
Revenue Code 891: Doubling Taxes on Foreign Citizens
Explore the mechanics of Revenue Code 891, a provision allowing the U.S. to adjust tax obligations for foreign nationals in response to foreign tax policies.