What Is New York’s TSB-M-06(5)I Bona Fide Employer Policy?
Learn about New York’s TSB-M-06(5)I policy, outlining employer responsibilities, tax withholding rules, and compliance requirements for bona fide employers.
Investment and Financial Markets
Do You Have to Pay Tax on Reinvested Dividends?
Understand how reinvested dividends impact your tax obligations, cost basis, and reporting requirements to ensure accurate financial record-keeping.
Penalty for Taking Pension Early: What You Need to Know
Understand the tax implications, penalties, and reporting requirements of withdrawing pension funds early to make informed financial decisions.
Do Trusts Issue 1099s to Vendors?
Understand when trusts need to issue 1099s to vendors, which payments qualify, and the reporting requirements to ensure compliance with tax regulations.
Do I Report PPP Loan Forgiveness in California for Taxes?
Understand how PPP loan forgiveness impacts your California taxes, key reporting differences, and the documentation needed to stay compliant.
Form 8829 Direct vs Indirect Expenses: What You Need to Know
Understand the differences between direct and indirect expenses on Form 8829, how to allocate costs, and the importance of accurate recordkeeping.
Why Is the Corrected Box Checked on This 1099-SA?
Understand why the “Corrected” box is checked on your 1099-SA, how it may affect your tax filings, and the steps to ensure accurate HSA reporting.
How to Determine the Number of State Personal Exemptions to Claim
Learn how to determine the right number of state personal exemptions to claim by considering filing status, dependents, and state-specific rules.
Should You File a MO-1NR or a Composite MO1040?
Learn how to choose between filing a MO-1NR or a composite MO-1040 by understanding income allocation, withholding adjustments, and potential tax implications.
Suspended Losses in a Partnership: What Happens When the Business Closes?
Understand how suspended losses in a partnership are handled when the business closes, including tax implications and the role of a partner’s basis.
Do You Have to Claim Workers’ Comp Settlement on Your Taxes?
Understand how workers’ comp settlements are treated for tax purposes, including which portions may be taxable and the importance of proper recordkeeping.
Are Foreign Medical Expenses Tax Deductible?
Learn how foreign medical expenses may qualify for tax deductions, which facilities are accepted, and what documentation is needed for proper filing.
NJ Form 1041: Filing Requirements and Key Information
Learn about NJ Form 1041 filing requirements, income categories, deductions, and reporting obligations to ensure compliance for estates and trusts.
What Is the PO Box Expense Category for Business Accounting?
Learn how to categorize PO Box expenses in business accounting, ensure proper documentation, and handle mixed-use costs for accurate financial reporting.
What Is the Depreciation Life of a Pool?
Understand how pool depreciation works, including classification, lifespan, and methods used to calculate its value over time for tax and accounting purposes.
Do You Have to File 1099-NEC With the State?
Learn when state filing of Form 1099-NEC is required, how multi-state income affects reporting, and the consequences of non-compliance.
Can You Qualify for Tax Credit Loans if You Finance a Purchase?
Understand how financing a purchase impacts your eligibility for tax credit loans and learn key factors that influence qualification and filing requirements.
Joint Bank Account Taxes When Not Married: What You Need to Know
Understand how taxes apply to joint bank accounts when you’re not married, including interest reporting, ownership shares, and proper documentation.
Does Georgia Offer Tax Deductions for High Deductible Health Plans?
Learn how Georgia treats tax deductions for high deductible health plans, including eligibility factors, contribution limits, and state filing requirements.
When Is Form NY IT-2 Required for Filing Your Taxes?
Learn when Form NY IT-2 is necessary for your state tax return, how to report income from multiple sources, and the best way to submit it accurately.