What is FVOCI? Classification and Measurement Rules
Explore the FVOCI classification for financial assets, how it reflects fair value in equity, and how its accounting treatment upon sale differs for debt and equity.
Investment and Financial Markets
Who Must File Form 5472 With the IRS?
Learn the IRS reporting obligations for corporations with foreign ownership concerning transactions with related parties to maintain compliance.
Where Can Veterans Get Their Taxes Done for Free?
Veterans may qualify for free, professional tax preparation. Learn about the different eligibility criteria and locate a trusted service provider near you.
How to Claim the Texas R&D Credit for Your Business
Learn how your business’s innovative activities can translate into a valuable Texas franchise tax credit, lowering your overall state tax liability.
What to Know About the 401k Loan Rules
Before borrowing from your 401k, understand the underlying regulations. Following the rules is crucial for avoiding unexpected taxes and penalties.
Form 433-A: Collection Information Statement Instructions
Gain insight into how the IRS uses Form 433-A to assess your financial picture and determine your eligibility for tax debt resolution options.
Form 706 vs. 1041: Key Distinctions for an Estate
An estate can face two distinct tax filings. Learn the difference between reporting asset value at death and reporting income earned during administration.
What Are Education IRAs? Explaining Coverdell ESAs
Learn how a Coverdell ESA works as a tax-advantaged tool for education costs and understand its strategic place alongside other savings plans and tax credits.
What Was FAS 114 for Impaired Loans?
Gain insight into the historical framework for impaired loan accounting under FAS 114 and the fundamental evolution in credit loss recognition.
Filing 2022 Form 6765 for the R&D Tax Credit
This guide details the principles and procedures for claiming the R&D tax credit using Form 6765, addressing key 2022 tax year requirements.
Rev. Rul. 2008-18: Capitalizing Creative Project Costs
Explore the tax principles that define costs for creative works as a capital investment rather than an immediate business expense for the producer.
Are Kickbacks Illegal Under Federal and State Law?
Understand the nuanced legal lines between a permissible business payment and an illegal kickback, which vary significantly by industry and jurisdiction.
How to Find All Your Interest Income for Taxes
Ensure your tax return is complete by learning a systematic approach to identify all your taxable interest, including earnings you might have overlooked.
What Is Schedule L on a Tax Return?
Understand Schedule L’s role in reporting your business’s financial position and how its figures support the accuracy of your entire tax return.
What Are the Federal Income Tax Brackets for 2023?
Learn how the progressive tax system applies to your earnings for 2023. This guide clarifies how different portions of your income are taxed at different rates.
List of Intangible Assets in Accounting
Delve into the accounting rules for non-physical assets, clarifying how they are recorded, valued over time, and distinguished from regular business expenses.
How to Claim Your FIRPTA Withholding Refund
Foreign sellers of U.S. property often overpay tax through FIRPTA withholding. Understand the steps to reconcile your actual tax liability and recover the funds.
Form 8288-A Instructions: How to Fill Out and File
Guidance for withholding agents on Form 8288-A, the IRS document that connects FIRPTA tax withholding to the foreign seller’s U.S. tax credit.
How to Update Form W-4 After Having a Baby
Adding a dependent changes your tax withholding. Learn to make the correct payroll adjustments to ensure your paycheck accurately reflects your new family status.
The COBRA Tax Shelter: A Notorious Tax Evasion Scheme
Examine the structure of the COBRA tax shelter, a defunct scheme that recharacterized taxable stock option income through sham health benefit payments.