ERISA Audits: When Is One Required for Your Plan?
An ERISA audit is a key compliance step for many retirement plans. Clarify the audit requirement for your plan and learn how to navigate the process.
Investment and Financial Markets
How Are LLCs Taxed in Indiana?
Explore how an LLC’s federal tax election shapes its Indiana state tax obligations and the procedures for maintaining compliance.
How to Find and Calculate Deferred Revenue
Understand the proper accounting treatment for customer prepayments and why they are recorded as a liability before becoming earned income.
What Is a 2632(c) Election for GST Exemption?
The tax code has default rules for allocating GST exemption to trusts. Learn how specific provisions provide control over this process for strategic estate planning.
How to Defer Capital Gains Without a 1031 Exchange
Explore methods for deferring capital gains tax from an asset sale without a 1031 exchange, using structured reinvestment and payment arrangements.
What Is Section 361 in Corporate Reorganizations?
Learn how a key tax provision enables strategic corporate reorganizations by allowing for the tax-deferred transfer of assets between participating companies.
What Are Treaty Benefits and How Do You Claim Them?
Navigate the complexities of cross-border taxation. This guide explains the function of tax treaties and the procedures for applying their benefits.
What Is Qualified Nonrecourse Financing?
Learn how certain real estate loans allow investors to deduct losses beyond their direct investment, a key exception to typical nonrecourse financing rules.
Section 333: The Repealed One-Month Liquidation Rule
Understand the policy shift in corporate tax by examining the repealed one-month liquidation rule and the modern double-taxation system that replaced it.
Notice 2023-64: Interim Guidance for the Corporate AMT
IRS Notice 2023-64 offers key clarifications for the Corporate AMT, providing interim guidance on the complex calculation of financial statement income.
If You Make $12,000 a Year, How Much Is Taxed?
While you may not owe federal income tax on a $12,000 salary, other taxes still apply. Learn how your total tax liability is calculated based on key factors.
IRS Form 4952: Investment Interest Expense Deduction
Learn how Form 4952 allows taxpayers to deduct interest on investment loans, subject to limitations based on their net investment income for the year.
EITF 88-18: Accounting for Sales of Future Revenues
EITF 88-18 provides the framework for classifying proceeds from future revenue sales, clarifying the critical distinction between debt and revenue treatment.
Can You Claim a Tax Credit for Your Pets?
While typical pet expenses are not deductible, discover the narrow circumstances where an animal’s specific role can make its costs a valid tax deduction.
Partnership Termination: Tax Rules and Process
Navigate the tax and procedural requirements for ending a partnership, from settling financial obligations to finalizing each partner’s tax position.
Form 8288-A: How to File for FIRPTA Withholding
Navigate the FIRPTA withholding process with Form 8288-A. Learn how this form connects the buyer’s payment to the foreign seller’s U.S. tax credit.
What Is Point in Time Revenue Recognition?
Learn the accounting framework for determining when a transaction is complete. This guide explains the logic for pinpointing the exact moment to recognize revenue.
What Is Form 8835 and How Do I File It?
This guide explains how to report renewable energy production on Form 8835 to secure the general business credit for your qualified facility.
What Are Your Termination Distribution Options?
Leaving your job? Understand the critical choices for your retirement account to preserve your savings and navigate the financial implications of your decision.
What Is a Quid Pro Quo Contribution?
When a payment to a charity provides a benefit in return, part is a gift and part is a purchase. Learn how this distinction affects your tax deduction.