What Is a Rollforward in Accounting and Its Purpose?
A rollforward reconciles an account from one period to the next, providing a clear, auditable summary of the activity that caused its balance to change.
Investment and Financial Markets
What Is the IRS PCORI Fee and Who Is Required to Pay It?
Understand your responsibilities for the IRS PCORI fee. Learn which health plans are affected and how issuers and plan sponsors ensure compliance.
How to Depreciate Equipment for Taxes
Learn the tax principles behind equipment depreciation to make informed decisions, recover asset costs, reduce taxable income, and report correctly.
Can You Use a 529 for Graduate School Room and Board?
Using a 529 plan for graduate school housing involves more than just paying rent. Understand the key distinctions and limits to maximize your tax-free benefits.
What Is Member’s Equity and How Is It Calculated?
Understand the net financial position of an LLC from an owner’s perspective. This guide explains the core principles behind member’s equity.
The Pros and Cons of a Total Control Account
Learn how a Total Control Account, an insurer-held option for life insurance benefits, differs from a traditional bank account in security and function.
Where Should I Mail My IRS Form 433-F?
Learn the correct procedure for submitting your financial information on Form 433-F, a key step in the process of resolving an outstanding tax liability.
Are Lease Liabilities Current or Noncurrent?
A total lease liability must be allocated on the balance sheet. Learn the principles for correctly classifying this obligation into current and noncurrent portions.
Section 3121: Defining Wages for FICA Tax Purposes
Explore the framework of Section 3121 to understand how the classification of payments and workers determines FICA tax obligations.
Schedule CA 540NR: Line-by-Line Instructions
This guide helps California nonresidents and part-year residents accurately adjust federal income to meet state tax law using Schedule CA (540NR).
2024 Income Tax Brackets and Federal Tax Rates
Gain clarity on the 2024 federal tax system. This guide moves beyond the rates to explain how your taxable income and marginal brackets work together.
E&P Distribution Ordering Rules for C Corporations
The tax treatment of C corp payments to shareholders depends on a precise calculation and application of Earnings & Profits, not retained earnings.
How Are Stock Appreciation Rights Taxed?
Understand how exercising Stock Appreciation Rights creates taxable income. Learn how this gain is treated as wages, impacting your withholding and W-2 reporting.
Do W-9s Expire and When Do You Need a New One?
A Form W-9’s validity is tied to the accuracy of its information, not an expiration date. Understand the specific changes that require a new submission.
Spousal IRA Income Limits and Contribution Rules
A Spousal IRA allows a married couple to save for a partner with little income. Learn how your combined earnings affect which type of account you can use and deduct.
IRA CD Withdrawal Rules After 59 1/2
Withdrawing from an IRA CD after age 59 1/2 requires balancing IRS regulations with your financial institution’s policies on CD maturity.
What is FVOCI? Classification and Measurement Rules
Explore the FVOCI classification for financial assets, how it reflects fair value in equity, and how its accounting treatment upon sale differs for debt and equity.
Form 706 vs. 1041: Key Distinctions for an Estate
An estate can face two distinct tax filings. Learn the difference between reporting asset value at death and reporting income earned during administration.
What Is Schedule L on a Tax Return?
Understand Schedule L’s role in reporting your business’s financial position and how its figures support the accuracy of your entire tax return.
How to Update Form W-4 After Having a Baby
Adding a dependent changes your tax withholding. Learn to make the correct payroll adjustments to ensure your paycheck accurately reflects your new family status.