What Is a Settlement Account and How Does It Work?
Learn how a settlement account works as the central cash hub in your brokerage, handling funds for trades, dividends, and other transactions.
Investment and Financial Markets
What Is IRS Nondiscrimination Testing?
Understand the IRS compliance framework that ensures your company’s retirement plan benefits are distributed fairly among all employees.
What Is the IRS Form 433-D Installment Agreement?
Understand how to use IRS Form 433-D to establish a direct debit installment agreement, allowing you to make automated payments on your federal tax debt.
Revenue Ruling 83-73: Gift or Compensation?
Explore how a corporation’s intent and documentation shape the tax treatment of payments to a surviving spouse according to IRS Revenue Ruling 83-73.
Can You Claim an Unborn Child on Taxes in Georgia?
Georgia’s tax code offers a dependent exemption not available on federal returns. Understand the state-specific provision and its requirements for your income tax.
What Are the Roth IRA Contribution Limits for 2024?
Navigate the 2024 Roth IRA contribution rules. Learn how your income and age determine your contribution limit and what to do if you over-contribute.
AU-C Section 320: Materiality in an Audit
Explore the core audit principle of materiality, a professional judgment that guides an audit’s scope by focusing on what could influence a user’s decisions.
How Much Will I Get Back in Taxes If I Make $100k?
Your tax outcome on a $100k salary is unique. This guide explains the full calculation that determines your final refund or the amount you owe.
Using Rev. Proc. 2017-34 for a Late Portability Election
Understand the simplified IRS relief for making a late portability election, allowing a surviving spouse to utilize the deceased’s unused federal estate tax exclusion.
Accounting General Ledger: What It Is & How It Works
Learn how the general ledger systematically organizes every transaction to provide a complete and verifiable basis for a company’s financial reports.
Accounting for Income Taxes: Core Principles
Learn the core principles for aligning tax expense with financial reporting and recognizing the future tax consequences of current business operations.
What Is House Cost Basis and How Is It Calculated?
Understand the true financial story of your home. Learn how your property’s cost basis evolves from acquisition to sale, impacting your final tax obligations.
What Is Section 291 Recapture for C Corporations?
Learn how Section 291 requires C corporations to treat a portion of their gain on real property sales as ordinary income, reducing the capital gain benefit.
Does Arkansas Accept a Federal Extension for Individuals?
Learn how a federal tax extension applies to your Arkansas return, and understand the critical difference between the extended deadline to file and the original deadline to pay.
What Does Net Settlement Mean in Finance and Accounting?
Understand the core financial principle of net settlement, where mutual obligations are consolidated to streamline payments and impact balance sheet reporting.
Do You Get Penalized for Not Having Health Insurance?
Understand current health insurance laws. While the federal penalty is now $0, some states have their own mandates. Learn how these rules are applied.
How to Claim Tips as a Server on Taxes
Navigate the tax requirements for your server tips. Learn how your daily records connect to your W-2 and how to correctly report all forms of tip income.
What Are Nondeductible Expenses for a Business?
Navigate tax compliance by learning the principles that separate a general business cost from a valid tax deduction under IRS guidelines.
What Does the IRS Consider Reasonable Compensation?
Paying yourself as a business owner requires a careful balance. Learn how to establish a reasonable salary that satisfies IRS guidelines and your company’s needs.
Income Tax Comparison: DC vs. Virginia
Choosing between living in DC or Virginia involves a complex tax calculation. Explore how each jurisdiction’s rules can impact your overall tax burden.