Investment and Financial Markets

A Form 1099-K shows gross transactions, which may not be fully taxable. Understand how to reconcile this figure for accurate tax reporting.

Beyond federal guidelines, state crypto tax rules vary widely. Understand how different state approaches to taxing and reporting transactions affect your compliance.

Explore how federal tax liability flows from a limited partnership to its members, and how a partner’s specific role impacts their individual tax outcome.

A guide to the principles within Rev Proc 2007-44 for establishing a defensible fair market value for private company stock in compliance with Section 409A.

Learn how to use payroll deductions for charitable giving and ensure you have the correct documentation to substantiate your contribution on your tax return.

Understand the principles behind the Earned Income Credit. This guide clarifies the official IRS rules for determining eligibility and calculating your credit.

The tax treatment of payments from your business is determined by its legal structure. Explore the core differences between partnership and corporate payouts.

Understand the IRS safe harbor in Rev. Proc. 2008-27, a reliable method for calculating the fair market value of certain insurance and annuity contracts.

Understand the connection between your financial choices and your tax bill. This guide offers a comprehensive approach to managing your tax liability effectively.

Explore the mechanics of the federal gift tax. This guide covers how property transfers are assessed and the framework for reporting them to the IRS.

Learn about IRS Rev. Proc. 168-96, a safe harbor method that simplifies how homeowners can calculate and substantiate a casualty loss for tax deduction purposes.

Explore the regulatory and operational framework for establishing a microcaptive, focusing on the core principles that ensure compliance and strategic value.

Your side hustle income has different tax rules. This guide explains how to correctly calculate what you owe and the process for meeting your tax obligations.

An IRS Notice 609 flags a discrepancy in your reported income. Learn to interpret the notice and navigate the required response procedures.

A guide for fiduciaries on preparing the Illinois Form IL-1041 to accurately report estate and trust income and ensure state tax compliance.

A guide to Minnesota’s corporate franchise tax, detailing how the state adjusts federal income and allocates it for businesses operating within its borders.

The 501c3 approval timeline depends on several variables. Understand how your application’s details and internal IRS procedures influence your waiting period.

Renting your personal home involves specific tax considerations. Understand how the duration of a rental impacts whether income is reported or expenses are deducted.

Understand your tax compliance obligations when paying non-residents for services in Canada, including reporting income and managing withholding.