What Is Tax Form 8949: Sales of Capital Assets?
Learn how Form 8949 is used to reconcile broker-reported sales data with your final tax figures, ensuring accurate reporting of capital gains and losses.
Investment and Financial Markets
When Do You Have to Pay State Taxes?
Understand how your living and working situation determines your state tax requirements, which can extend beyond the state where you have a primary address.
What Are the 1031 Related Party Rules?
A 1031 exchange with a related party involves distinct regulations. Learn how these rules function to protect the integrity of your tax-deferred status.
How Do You Receive a State Tax Refund?
Receiving your state tax refund depends on choices made during filing and other factors that can influence the final amount and delivery schedule.
New Furnace Tax Credit and How to Claim It
Claiming the federal tax credit for a new furnace involves specific equipment and documentation rules. Learn the steps to ensure you meet all requirements.
Do I Have to Pay Taxes on Child Support?
Navigate your tax obligations by understanding how the IRS views child support. See how the rules for payments are distinct from who gets key tax benefits.
FRS 100: Application of Financial Reporting Requirements
FRS 100 sets the financial reporting framework for UK and Irish entities, directing them to the correct standard and outlining key compliance principles.
How to Report Royalties on Form 1099-MISC
Clarify the tax reporting process for royalty payments, including the specific obligations for payers and the financial consequences for recipients.
Filing REV-72 and REV-956 for PA Inheritance Tax
A procedural guide for estate executors preparing a PA inheritance tax return, covering key steps from initial asset inventory to final filing.
What Is Form 1099-NEC and Who Needs to File It?
Understand the function of Form 1099-NEC in tax reporting for nonemployee compensation, from business filing obligations to recipient responsibilities.
What Is the KC Earnings Tax and Who Pays It?
Understand the 1% Kansas City earnings tax. This guide clarifies how residency and work location determine your tax liability and filing requirements.
RRSP Tax Credit or Deduction: What’s the Difference?
An RRSP provides a tax deduction, not a credit. Learn how this distinction lowers your taxable income and affects the total tax you pay each year.
Donating Appreciated Stock to a Private Foundation: Tax Rules
Understand the specific tax framework for gifts of appreciated stock to private foundations, a strategy governed by rules distinct from public charities.
How to Get an IRS 120-Day Payment Plan
Discover the process for obtaining a formal 120-day payment extension from the IRS, a short-term solution for resolving your tax liability in full.
What Is Form IT-201 and How Do I File It?
This guide for New York residents clarifies the process for Form IT-201, explaining how to use your federal return and apply key state-level adjustments.
What Is the Meaning of Tangible Assets?
Understand how a company’s physical possessions are valued and systematically tracked to provide a clear picture of its financial foundation.
What Does Form 8850 Mean for Employers?
For employers, Form 8850 is the required first step to certify a new hire’s eligibility and claim the Work Opportunity Tax Credit.
Rev. Rul. 82-63: Contribution to Capital vs. Deduction
Understand how IRS Rev. Rul. 82-63 recharacterizes certain intercompany payments, affecting a parent corporation’s basis rather than its deductions.
Form 8889 Line 3: How to Calculate Your HSA Limit
This guide clarifies how to report HSA contributions on Form 8889, focusing on the distinction between personal and employer deposits for Line 3.
How to Roll Over a 403(b) to a 401(k)
Changing jobs from the public sector? Consolidating a 403(b) into a 401(k) requires a careful evaluation of financial factors before executing the transfer.