How to Get a 501(c)(3) Determination Letter
Gain a clear understanding of the IRS process for formalizing your nonprofit’s purpose and obtaining its 501(c)(3) determination letter.
Investment and Financial Markets
If You Receive a Grant, Is It Taxable?
Understand the tax implications of receiving a grant. The tax treatment varies based on the award’s source, purpose, and specific conditions.
Live in Wisconsin, Work in Minnesota: Filing State Taxes
Filing state taxes when you live in Wisconsin and work in Minnesota involves a specific process for wages and different rules for other types of income.
Why Would You Amend a Tax Return?
Learn the process for correcting a tax return. Our guide clarifies when an amendment is truly necessary, when it isn’t, and what to expect after you file.
New York vs. California Taxes: A State Breakdown
Beyond the headlines of high taxes, New York and California have vastly different financial frameworks. Understand how each system could impact your bottom line.
How to Claim a Credit for Excess Social Security & RRTA Tax
If you held more than one job last year, you may be due a refund for overpaid Social Security taxes. Find out how to claim this credit on your return.
How to Calculate the Net Premium Tax Credit on Form 8962
Accurately reconcile your advance health insurance subsidy with your final income using Form 8962 to determine if you are owed a credit or must repay an excess.
What Is the $5,250 Employee Education Subsidy?
Learn how the $5,250 employee education subsidy functions as a tax-free benefit for paying for college or reducing student loan debt.
Oregon Form 243: Real Estate Sale Withholding Rules
Navigate Oregon’s real estate withholding tax for non-resident sellers. Understand the requirements for managing state tax obligations during a property sale.
Notice 2023-38: Domestic Content Bonus Credit Rules
IRS Notice 2023-38 provides the definitive criteria and procedures for clean energy projects to qualify for the domestic content bonus credit.
What States Tax Social Security Benefits?
Your state’s tax policy plays a crucial role in determining your net Social Security income. Learn how different state rules affect your retirement finances.
Work in Process or Progress: What It Means in Accounting
Understand Work in Process as a key current asset. Learn how the costs of partially finished goods are calculated and reported on a company’s financial statements.
What Are Fiduciary Fees and How Do They Work?
Gain clarity on fiduciary compensation. This guide explains how fees are structured, the standards for ensuring fairness, and their overall financial context.
What Does Social Security Tax Pay For?
Learn how Social Security taxes are channeled into dedicated trust funds to provide financial stability for working Americans and their families.
Who Can Claim a Deduction on Form 2106 Line 11?
Claiming a depreciation deduction on Form 2106 is now restricted to specific taxpayers. Learn the current rules and how to calculate the amount.
The 25C Credit and the Inflation Reduction Act
Plan your home energy upgrades with a clear understanding of the 25C tax credit’s financial structure and specific qualification requirements.
What Are the Rules of Section 408 for IRAs?
Explore the IRC Section 408 framework that governs the tax treatment and compliant management of your Individual Retirement Arrangement.
Does Texas Have a Capital Gains Tax?
While Texas has no state capital gains tax, residents still have federal obligations. Learn how this distinction impacts your personal and business finances.
What Are Stewardship Expenses and Are They Deductible?
How a parent company classifies costs related to its subsidiaries determines their tax deductibility. Explore the key distinction between oversight and services.
Do Railroad Workers Get Social Security?
Railroad employees are covered by a distinct federal retirement system, not Social Security, which has its own structure for calculating and taxing benefits.