Why Do Companies Issue Non-Dividend Distributions?
Discover when a company’s cash payment to shareholders is a return of capital, not a dividend, and the financial circumstances driving this distinction.
Investment and Financial Markets
Hawaii Capital Gains Tax: Rates and Rules for Filing
Understand the financial impact of selling stocks or property in Hawaii. Learn how the state treats your profit and the steps for correct tax reporting.
What Is a Trial Balance and How Do You Prepare One?
A trial balance confirms the mathematical balance of general ledger accounts, but a balanced report doesn’t guarantee overall financial record accuracy.
Section 467: Tax Treatment for Rental Agreements
Section 467 alters tax timing for certain leases, mandating an accrual method with imputed interest to align income and expense with the agreement’s economic terms.
How to Answer Questions on Your W-4 Form
Learn how to complete your Form W-4 accurately to better control your annual tax outcome and manage the federal tax withheld from your paycheck.
Item 406: Code of Ethics Disclosure Requirements
Explore how SEC Item 406 establishes public transparency for the ethical standards governing a company’s senior financial executives and their conduct.
How to Open a Custodial IRA for a Minor
Learn the essential steps and considerations for establishing a custodial IRA, a tool for a minor’s long-term, tax-advantaged financial future.
What Are the Benefits of a Backdoor Roth IRA?
Discover a financial strategy that allows high-income earners to access the tax advantages and planning flexibility of a Roth IRA retirement account.
Hobby or Business? How the IRS Tells the Difference
How you manage your side income determines if it’s a hobby or business for tax purposes. This distinction affects how you report profit and deduct costs.
Rev. Proc. 2003-33: Safe Harbor for Utility Contributions
Explore Rev. Proc. 2003-33, which defines the conditions under which certain payments to water and sewerage utilities are treated as non-taxable capital.
What Is Form 8109-B and Why Is It Now Obsolete?
Understand the transition from the paper Form 8109-B coupon to the current IRS requirement for businesses to make all federal tax deposits electronically.
What Is a Financial Audit? The Process & Core Objectives
A financial audit offers an objective opinion on whether a company’s financial statements are fairly presented, providing crucial assurance to all users.
What Are Tax-Advantaged Accounts & How Do They Work?
Understand how certain accounts are structured to lower your tax liability by changing how contributions, earnings, and withdrawals are treated by the IRS.
The WA State FLI Tax and the WA Cares Payroll Tax
A clear overview of the WA Cares payroll tax, detailing your financial obligations, the specific criteria for an exemption, and the program’s benefits.
Electric Car Tax Credits for New and Used Vehicles
Navigate federal tax incentives for new and used electric vehicles. This guide clarifies the detailed eligibility rules and your options for receiving the credit.
What Was the Revenue Procedure 82-17 Safe Harbor?
Examine the original IRS safe harbor for preventing private use in management contracts and how its strict principles have evolved for tax-exempt bond financing.
How to Write Off a Car as a Business Expense
Understand the requirements and calculation methods for deducting business vehicle use to accurately reduce your taxable income and maintain IRS compliance.
How Are Book Royalties Taxed for Authors?
Understand how the IRS views your writing—as a business or a hobby—and how this critical distinction shapes your tax obligations on royalty income.
The GST Margin Scheme: How It Works for Property Sales
Learn how the GST margin scheme provides an alternative way to calculate tax on property, basing it on the profit margin instead of the full sale price.
How Often Can You Do a 1035 Exchange?
Learn why 1035 exchange frequency is governed by suitability rules, not a set timeline. Understand the requirements to ensure your transfer remains tax-free.