How to Pay Less Taxes During Retirement
Your tax situation changes in retirement. Learn how strategic coordination of your income sources and assets can help lower your overall tax obligation.
Investment and Financial Markets
How to Calculate Company Net Asset Value
Understand a company’s fundamental worth by calculating its Net Asset Value. Learn how this key accounting measure provides a baseline for valuation analysis.
Expense Classification for Financials and Taxes
Learn how the systematic organization of business expenses provides clarity on financial statements and impacts the calculation of your taxable income.
Is Social Security Considered Earned Income?
Social Security is not earned income, a critical distinction that affects IRA contribution eligibility and how your overall income is taxed in retirement.
Maryland Tax on Military Retirement Income
Military retirees can reduce their Maryland state tax liability. This guide clarifies the specific income subtractions available and the process for applying them.
Regulation 1.401(k)-3: The 401(k) ADP Test Rules
Explore the regulatory framework of the 401(k) ADP test, covering the rules and procedures required to maintain a compliant and equitable retirement plan.
Do I Need to Attach My W-2 to My Tax Return?
How you submit your W-2 data to the IRS depends on your filing method. Clarify the procedural rules for your tax return to ensure it is filed correctly.
IRC 2054: Deducting Estate Casualty and Theft Losses
Learn how an estate’s taxable value can be reduced by property losses that occur during its administration, subject to specific rules and limitations.
What Is an Auto Allowance and How Is It Taxed?
Discover why a fixed car allowance is considered taxable compensation and how this impacts both employee take-home pay and employer payroll costs.
Are Freight and Delivery Charges Taxable in Iowa?
The taxability of freight charges in Iowa depends on specific transactional details. Learn the factors that determine your sales tax obligations.
IRS Notice 2005-43: Abusive Roth IRA Transactions
Learn how IRS Notice 2005-43 recharacterizes certain business contributions to an owner’s Roth IRA, creating unintended tax consequences for all involved.
What Are California’s Military Tax Exemptions?
For military personnel, California tax liability depends on your domicile, not just where you are stationed. Learn how these rules affect your state filing.
What Are Substantive Tests in an Audit?
Understand the essential procedures auditors use to gather direct evidence, verifying the reliability of financial data and supporting the final audit opinion.
What Is IRS Form 1078 and What Replaced It?
Understand the current IRS requirements for certifying U.S. tax residency, a process once handled by the now-obsolete Form 1078.
What Is Revenue Procedure 96-57 for Method Changes?
Learn how Revenue Procedure 96-57 provides a streamlined path for taxpayers required to change from the cash to the accrual method of accounting.
Revenue Ruling 2002-83: Tax Treatment of Liabilities
Explore IRS Revenue Ruling 2002-83’s guidance on the tax treatment of uncertain obligations assumed by a new corporation during a business transfer.
Form 8910 Instructions: Alternative Motor Vehicle Credit
Navigate the requirements of IRS Form 8910 to properly claim the tax credit for a new qualified fuel cell motor vehicle on your federal return.
Tax Rules for Personal Miles on a Company Vehicle
Driving a company car for personal reasons is a taxable benefit. Learn how its value is determined and added to your W-2 as reportable income.
What Is the Chile Corporate Tax Rate?
Understand Chile’s corporate tax framework, focusing on its integrated system that connects the tax on profits with the tax on owner distributions.
AS 3305: Engagements for Special Reports
Explore how PCAOB standard AS 3305 guides auditors in providing targeted assurance on specific financial data beyond a full financial statement audit.