Is Paying a Housekeeper Tax Deductible?
Learn the specific circumstances that allow for a tax deduction or credit for housekeeping costs and what your obligations are as a household employer.
Investment and Financial Markets
Specialized Accounting for Mortgage Bankers
Understand the distinct accounting principles for mortgage bankers, focusing on the valuation of unique assets and managing interest rate risk.
What Is Form 1099-R and How Do I Report It?
Learn how to correctly interpret your Form 1099-R. Our guide explains what your retirement distribution means for your taxes and how to report it.
How to Get a Company Audited: The Process Explained
A company audit is a structured process. This guide clarifies each phase, helping businesses effectively manage the formal examination of their records.
What Are the Rules for a 401k Plan?
Understand the key tax and timing regulations that govern your 401k to help you make informed financial decisions throughout the life of your account.
What Is a 20-F Filing and Who Needs to File?
Learn how the Form 20-F provides standardized financial reporting, serving as the primary disclosure document for foreign issuers in U.S. markets.
Michigan Business Tax Filing Requirements
Fulfill your Michigan business tax obligations. This overview clarifies the necessary preparations and procedures for state tax compliance.
Are VA Survivor Benefits Considered Taxable Income?
Understand the tax rules for payments a veteran’s survivor receives. Learn why most VA benefits are tax-free while other related income may be taxable.
How to Claim the Alabama Credit for Taxes Paid to Other States
Alabama residents who pay income tax in another state can avoid double taxation. Learn the requirements for properly calculating and claiming this state tax credit.
IRS Code Section 6001: Tax Record Requirements
IRS Code Section 6001 sets the legal duty for taxpayers to substantiate their returns. Learn the principles of effective record-keeping to ensure compliance.
When Are 1099-DIV Required to Be Sent Out?
Understand your obligations for reporting dividend payments. This guide details the complete process for issuing Form 1099-DIV to ensure compliance.
What Is the Definition of Capital Assets?
A property’s classification as a capital asset is a core tax concept. This distinction, defined by specific exclusions, governs how sales are taxed.
What Is the Definition of Budgetary Slack?
Explore how budgetary slack, the intentional padding of budgets, can distort performance metrics and lead to inefficient resource allocation within an organization.
What Is an Inventory Obsolescence Reserve?
Learn how an inventory obsolescence reserve ensures financial accuracy by adjusting stock value to its true worth, a key distinction for reporting and taxes.
IRS Publication 5199: Distribution and Loan Relief
Understand the official IRS guidance on the tax implications and options for retirement funds accessed under the special 2020 relief provisions.
What Is the Subject to Tax Rule Under Pillar Two?
Understand the STTR’s role within Pillar Two, which secures a source country’s right to tax certain payments made to related entities in low-tax jurisdictions.
ASU 2009-14: Software Revenue Recognition Explained
Understand the key shift in software revenue accounting under ASU 2009-14, which introduced a more flexible model for valuing bundled deliverables.
What Is the Section 965 Inclusion Transition Tax?
Explore the Section 965 transition tax, a one-time levy on accumulated foreign earnings that impacts future distributions from foreign corporations.
How Are Employee Bonuses Taxed in Michigan?
Understand the tax withholding process for your Michigan employee bonus. Learn how it impacts your paycheck and what it means for your total annual tax obligation.
The Saskatchewan Graduate Retention Program Explained
For graduates in Saskatchewan, the Graduate Retention Program offers a way to convert paid tuition into a provincial tax credit. Understand the process.