How to File Schedule SE for Self-Employment Tax
Understand the mechanics of Schedule SE, from using your net earnings to calculate your tax liability to reporting the results on your Form 1040.
Investment and Financial Markets
How IRC 2522 Governs Charitable Gift Deductions
Navigate the intersection of philanthropy and tax law. Learn the rules governing the gift tax deduction for charitable contributions under IRC 2522.
Do Cruise Ship Workers Pay U.S. Taxes?
U.S. tax liability for cruise ship workers is rarely simple. This guide explains how personal factors and work location affect your filing responsibilities.
Why Does the Tax Bracket Jump From 12% to 22%?
The jump from the 12% to 22% tax bracket stems from a major tax law revision designed to adjust rates and provide relief for middle-income earners.
Instructions for IRS Form 8826, Disabled Access Credit
Understand the tax principles behind the Disabled Access Credit, a nonrefundable credit for small businesses making accessibility enhancements.
26 U.S.C. § 7202: Willful Failure to Pay Over Tax
An overview of 26 U.S.C. § 7202, detailing how financial authority and intentional action can lead to felony charges for unpaid trust fund taxes.
What Is the Economic Resources Measurement Focus?
Explore the governmental accounting method that looks beyond current cash flows to measure total assets, liabilities, and the full cost of services.
What Is the IRS Overpayment Penalty?
The IRS doesn’t penalize standard tax refunds. Learn about the specific penalty for erroneous claims and the reasonable basis required to avoid it.
Are IRAs and 401ks the Same? Key Differences
Discover how 401(k)s and IRAs differ in their core structure, affecting everything from how you open an account to the flexibility you have with your money.
What Is a 408a Plan and How Does It Work?
Understand the mechanics of a Roth IRA (IRC Section 408a), from its after-tax funding structure to the specific rules governing tax-free distributions.
How the Transfer of Trust Assets to a Beneficiary Works
Learn about the structured journey of trust assets, from the required administrative preparations to the procedural mechanics of a compliant final transfer.
What Is the 60-40 Rule for Section 1256 Contracts?
Explore the tax methodology for certain financial contracts where gains and losses receive a blended long-term and short-term treatment, regardless of holding period.
Are Money Market Funds Cash Equivalents?
Explore the accounting classification of money market funds as cash equivalents and the subtle but important distinctions in their risk and structure.
How Do Hair Stylists Show Proof of Income?
Translate your diverse income streams into a professional financial narrative. This guide helps stylists organize their earnings to meet official requirements.
Should the Tax Laws Be Reformed to Encourage Saving?
Tax policy can influence saving, but reforms present a complex balance between stimulating economic growth and ensuring equitable outcomes for all taxpayers.
What Is Imputed Interest and How Does It Work?
Understand the tax implications of loans with below-market interest rates. Learn how the IRS recharacterizes these transactions to create taxable income.
How Content Creator Tax Write Offs Actually Work
Learn the framework for managing your creator business taxes, from correctly calculating expenses to maintaining the records required for accurate reporting.
Can I Use My FSA Account for My Child?
Understand the requirements for using your Health or Dependent Care FSA for your child, from defining a qualifying dependent to identifying eligible expenses.
What Is the Completeness Assertion in Accounting?
Explore the completeness assertion, a core principle for ensuring financial statements accurately reflect all transactions, assets, and liabilities without omission.
Famous Examples of Accounting Frauds
Delve into the accounting mechanisms behind famous corporate scandals. Learn how financial records can be manipulated to create a misleading picture of a company’s health.