How to Request an IRS Lock-In Letter Removal
Learn the formal process for removing an IRS lock-in letter by demonstrating sufficient withholding and submitting a request to regain control of your payroll taxes.
Investment and Financial Markets
What Is a Check-the-Box (CTB) Election?
The check-the-box regulations allow certain businesses to choose a federal tax classification that is separate from their legal entity structure.
Can an Employer Contribute to a Dependent Care FSA?
Explore how employer contributions to a Dependent Care FSA work, including their effect on the combined annual limit and the tax implications for all parties.
The Difference Between 501(c)(3) and 509(a)(2) Status
Understand the relationship between 501(c)(3) status and the 509(a)(2) public charity classification, which is determined by an organization’s funding sources.
The 63 20 Corporation Charitable Giving Strategy
Explore a structured giving strategy where shareholders use a corporation to fund a life insurance policy, resulting in a significant charitable contribution.
How Long Does It Take a Tax Preparer to Do Your Taxes?
Understand the full tax preparation timeline, from document drop-off to filing. Learn how your unique financial picture influences the total turnaround time.
Original Issue Discount (OID) Rules Under Section 1272
Understand the tax principles of original issue discount (OID), where accrued interest is taxed annually, and how basis adjustments prevent double taxation at sale.
How Did the CARES Act of 2020 Affect Taxes?
Beyond direct aid, the 2020 CARES Act implemented significant but temporary tax code adjustments for individuals, businesses, and charitable giving.
Is Off-Campus Housing Covered by a 529 Plan?
Using 529 funds for off-campus housing requires meeting specific criteria. Learn how school-defined limits, not just rent, dictate your qualified withdrawal amount.
Does Spouse Income Affect Unemployment Benefits?
Clarify how unemployment insurance works for married individuals and how combined household earnings impact your overall financial obligations.
How Much Should I Contribute to My HSA?
Determine your ideal HSA contribution by balancing your budget, anticipated medical costs, and long-term tax and investment goals.
How to Get a Hardship Withdrawal From Your 401k
A 401k hardship withdrawal has specific requirements and significant financial trade-offs. Learn what this decision entails before accessing retirement funds.
What Is Section 1274(d) of the Internal Revenue Code?
Learn about the IRS rules for imputed interest on debt instruments and how minimum interest rates affect the tax obligations of lenders and borrowers.
What Is the Arm’s Length Principle in Transfer Pricing?
Learn how the arm’s length principle ensures transactions between related entities reflect market value, supporting fair taxation and international compliance.
Revenue Ruling 59-60: Factors for Business Valuation
Delve into the principles of Revenue Ruling 59-60. Understand the analytical framework and judgment required to determine the value of a private company.
What Are the 457(b) Contribution Limits for 2024?
Understand the unique 2024 contribution rules for 457(b) plans and how its deferral limits coordinate with other retirement accounts like a 401(k) or 403(b).
Can I Pay Myself a W-2 From My LLC?
Your LLC’s tax classification, not its legal type, determines if you can receive a W-2. Learn about the election that makes an owner a salaried employee.
What Is Considered a Material Expense in Accounting?
Understand how an expense’s significance dictates its journey through accounting records, ultimately shaping financial statements and tax obligations.
IRC 2514: Gift Tax Rules for Powers of Appointment
Explore the gift tax implications of a power of appointment under IRC 2514. Learn how certain lifetime decisions can be treated as a taxable transfer.
What Is the Penalty for Not Having Health Insurance in NJ?
Understand the financial implications of NJ’s health coverage mandate. This guide details how the requirement affects your 2023 state tax return.