The Role and Purpose of a FASB Technical Bulletin
Examine the role of FASB Technical Bulletins as a source of timely, authoritative guidance for resolving narrow financial accounting implementation issues.
Investment and Financial Markets
Significant Modification of Debt: Tax Consequences
Altering the terms of a debt instrument can be considered a taxable exchange. Learn the tax principles that govern debt restructurings and their outcomes.
Can You File an Extension for State Taxes?
A state tax extension provides more time to file your return, but not to pay. Understand this key distinction and how requirements can differ based on where you live.
How to Calculate Invested Capital (Formula & Examples)
Calculate invested capital by analyzing a company’s operating assets or its financing structure, two equivalent methods for assessing operational efficiency.
Key Audit Matters: Examples From an Auditor’s Report
Go beyond the audit opinion to understand the most challenging and subjective judgments an auditor makes when reviewing a company’s financial statements.
How to File Self-Employed Hair Stylist Taxes
Understand the financial side of being a self-employed stylist. Our guide provides a clear framework for managing your tax duties and business expenses.
Can an Employer Adjust Your Claimed Tips?
Federal and state laws create a framework for how employers can handle tips. Learn the key distinctions between lawful actions and improper practices.
How to Elect to be Taxed as an S-Corporation
Understand the implications of an S-corp tax election. This guide details the formal process and ongoing responsibilities for business owners.
When to Recognize Cancellation Fee Revenue?
Learn the correct timing for recognizing cancellation fee revenue. This analysis explains why it is recognized when the original service obligation ends.
What Is Foreign Branch Category Income?
Gain insight into the principles for determining net income in the foreign branch category, a critical classification for U.S. foreign tax credit calculations.
What Is an Unconditional Purchase Obligation?
Understand the accounting principles governing how a firm’s commitment to purchase is reported, whether as a balance sheet liability or a footnote disclosure.
How to Avoid the IRMAA Medicare Surcharge
Learn how income levels affect your Medicare premiums and the financial planning strategies you can use to manage and potentially reduce this added cost.
How to Find Your Organization’s Tax Exempt Number
Learn to distinguish between your organization’s different tax-exempt identifiers and find the correct number needed for official or purchasing purposes.
How Can a Lien Be Placed on an LLC?
An LLC’s liability shield is strong but not absolute. Learn when and how creditors can legally place a claim against a limited liability company’s assets.
What Are the Section 179 Deduction Limits?
Learn how the Section 179 deduction is calculated. Your total equipment spending and business income can change the final amount you are eligible to write off.
What Are Examples of Impairment-Related Work Expenses?
The tax code can help offset costs incurred to work with an impairment. Learn how the IRS defines these expenses and the unique advantages of this deduction.
How Does an IRA Work? From Contributions to Withdrawals
This guide explains the lifecycle of an IRA, clarifying the tax rules that govern your contributions, investment growth, and retirement distributions.
Investment vs. Expense: Financial and Tax Differences
Distinguishing between an expense and an investment is crucial for accurate financial reporting and optimizing your business’s overall tax position.
What Happens to a 529 If Not Used for College?
When college plans change, your 529 savings are not lost. Learn how to manage unused funds and navigate the financial considerations for your account.
What Is the 85/13 Rule for VA Benefits?
Explore the VA’s 85/13 rule, a key compliance standard for educational institutions that ensures program integrity for GI Bill® beneficiaries.