Investment and Financial Markets

Learn how Section 358 preserves the tax characteristics of property in a nonrecognition transaction by establishing a new, adjusted basis for stock.

Learn how a formal closing agreement creates a legally binding, final resolution of a tax liability or specific issue between a taxpayer and the IRS.

Understand the adjustments Public Law 113-92 made to pension funding, offering flexibility and stability to certain charitable and cooperative employer plans.

For non-resident aliens, U.S. capital gains tax is triggered by specific factors. Understand what makes a gain taxable and the necessary reporting procedures.

While California has no formal exit tax, moving away doesn’t sever all financial ties. Learn how state tax law applies to your income after establishing residency elsewhere.

Understand the mechanics of the real estate excise tax. Learn how a property’s sale price and local rates combine to determine this key closing cost.

Gain clarity on the CDTFA’s role for California businesses and the procedural requirements for successful registration and ongoing tax compliance.

Explore the principles of the federal gift tax. Learn how to value gifts, apply annual and lifetime exemptions, and navigate the reporting process.

Understand the framework of Revenue Procedure 2006-45, an IRS safe harbor offering a simplified approach to income recognition for eligible contractors.

Understand the IRS process for calculating the tax-free portion of your pension payments, allowing you to recover your after-tax contributions over time.

A historical overview of the repealed Section 199 deduction, exploring its function as a tax incentive for domestic producers before its 2017 replacement.

Explore how IRC 2044 requires inclusion of marital deduction property in a surviving spouse’s estate, ensuring a deferred tax obligation is fulfilled.

Filing an amended tax return requires careful consideration. This guide covers the key procedures for correcting your information and ensuring its accuracy.

Navigate Minnesota self-employment tax by understanding how your federal business profit informs your state income tax liability and required payment schedule.

Understand the specific corporate and operational standards a business must meet to be considered a Qualified Active Business for tax purposes.

Understand the tax framework for assets shared between personal and business life, including how usage impacts current deductions and future tax liabilities.