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.
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.
Learn the IRS reporting obligations for corporations with foreign ownership concerning transactions with related parties to maintain compliance.
Veterans may qualify for free, professional tax preparation. Learn about the different eligibility criteria and locate a trusted service provider near you.
Learn how your business’s innovative activities can translate into a valuable Texas franchise tax credit, lowering your overall state tax liability.
Before borrowing from your 401k, understand the underlying regulations. Following the rules is crucial for avoiding unexpected taxes and penalties.
Gain insight into how the IRS uses Form 433-A to assess your financial picture and determine your eligibility for tax debt resolution options.
An estate can face two distinct tax filings. Learn the difference between reporting asset value at death and reporting income earned during administration.
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.
Gain insight into the historical framework for impaired loan accounting under FAS 114 and the fundamental evolution in credit loss recognition.
This guide details the principles and procedures for claiming the R&D tax credit using Form 6765, addressing key 2022 tax year requirements.
Explore the tax principles that define costs for creative works as a capital investment rather than an immediate business expense for the producer.
Understand the nuanced legal lines between a permissible business payment and an illegal kickback, which vary significantly by industry and jurisdiction.
Ensure your tax return is complete by learning a systematic approach to identify all your taxable interest, including earnings you might have overlooked.
Understand Schedule L’s role in reporting your business’s financial position and how its figures support the accuracy of your entire tax return.
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.
Delve into the accounting rules for non-physical assets, clarifying how they are recorded, valued over time, and distinguished from regular business expenses.
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.
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.
Adding a dependent changes your tax withholding. Learn to make the correct payroll adjustments to ensure your paycheck accurately reflects your new family status.
Examine the structure of the COBRA tax shelter, a defunct scheme that recharacterized taxable stock option income through sham health benefit payments.