Does South Carolina Tax Military Retirement?
Explore the tax landscape for military retirees in South Carolina. Learn how the state’s full military pension deduction fits within its broader income tax rules.
Investment and Financial Markets
2021 Form 5329: Additional Taxes on Qualified Plans
Understand the purpose of Form 5329 and how to correctly calculate and report additional taxes on qualified plans for the 2021 tax year.
What Was in the Tax Relief Act of 2020?
An overview of the late 2020 legislation that provided further economic support and clarified tax treatments for pandemic-related relief programs.
How Much Do You Get Back for Dependents on Taxes?
Claiming a dependent can significantly impact your tax return. Explore the eligibility requirements and financial calculations that determine your total tax benefit.
Can You Claim the Child Tax Credit Married Filing Separately?
Filing separately while married has distinct rules for the Child Tax Credit. Understand the specific IRS requirements that can allow you to claim this valuable credit.
Identifying and Correcting Common Depreciation Problems
Ensure accurate financial reporting and tax compliance by understanding the nuances of depreciation from initial calculation to asset disposal and error correction.
Can You Deduct Financial Advisor Fees?
Recent tax law shifts changed how financial advisor fees are treated. Understand the current guidelines and when a deduction might still be possible.
NC 529 Plan Rules: Contributions, Taxes & Withdrawals
Explore the essential framework of the NC 529 Plan to help you make informed decisions about your tax-advantaged education savings.
How to File Form AP: Requirements and Deadlines
Understand the process for fulfilling PCAOB audit transparency requirements by correctly preparing and submitting Form AP for public company audits.
Does Kansas Have a Gift Tax? Federal Rules Explained
Kansas does not have a state-level gift tax, but federal rules still apply. Learn how high federal exemptions work and the specific situations that require filing a return.
Are Government Bonds Tax Free? Federal vs. State Rules
The taxability of government bonds depends on the issuer. Learn how federal, state, and local tax rules affect your interest income and overall tax liability.
Highway and Transportation Funding Act of 2015: Tax Changes
Explore the lasting tax code adjustments from the 2015 highway bill, which altered reporting requirements, audit procedures, and compliance for businesses and estates.
How Much Taxes Do I Pay on $7,000?
Calculating the tax on $7,000 involves more than a simple rate. Discover how your individual financial circumstances shape your true tax liability.
Key Changes from the ASPE 2017 Update
The 2017 ASPE update introduced key changes affecting how private companies present their financial health and account for complex business arrangements.
What Are the PFIC Filing Requirements?
Holding foreign investments may trigger complex U.S. tax reporting. Understand the PFIC rules to ensure compliance and choose the appropriate tax treatment.
Can I Sue My Employer for Not Withholding Federal Taxes?
When an employer doesn’t withhold taxes, a lawsuit is not the typical solution. Learn the correct process for addressing the issue and your own obligations.
What Is an Intentionally Defective Grantor Trust?
An intentionally defective grantor trust is an estate planning vehicle that treats assets differently for income and estate tax purposes to transfer wealth.
Are Unvested Shares Considered Outstanding?
The classification of unvested shares as outstanding is contextual. Learn how the definition shifts and what this means for shareholders and companies.
What’s the Difference Between Import Duties and Taxes?
Understand the financial obligations of importing. This overview clarifies the separate government levies and the factors that influence your total landed cost.
What Happens If I Close My 529 Account?
Closing a 529 account involves more than a simple withdrawal. Understand the tax treatment of your earnings and the necessary steps for proper reporting.