Investment and Financial Markets

Gain clarity on the tax administration of a Qualified Funeral Trust, from its unique income calculation to the tax effects of distributions.

For purchasers of business assets in NY, understanding state tax notification rules is essential for mitigating risk and avoiding inherited liabilities.

Rev Proc 2021-28 offers a streamlined path with automatic IRS consent for small businesses to adopt a simpler, less burdensome inventory accounting method.

Navigate the complexities of Florida’s commercial rent tax. This guide clarifies landlord obligations and tenant costs following recent legislative changes.

Understand how revenue from SEO is treated within the standard framework of business taxation, impacting your company’s net taxable income and overall liability.

Deducting education costs can lower your taxable income. Understand the specific IRS criteria that distinguish a qualifying business expense from a personal one.

California residents in designated disaster areas may have automatic federal and state tax relief, postponing both filing and payment deadlines.

Revenue Ruling 83-39 clarifies the tax character of an employer’s reimbursement for a home sale loss, defining it as taxable compensation, not a sale proceed.

Correcting an inaccurate Form 1099 is a manageable process. Learn the specific IRS requirements for different types of errors to ensure an accurate filing.

Understand how certain separated taxpayers in community property states can request to be taxed solely on their individual earnings using Form 15227.

While IRAs do not offer loans, a specific IRS rule allows for short-term use of your funds. Learn the strict process for withdrawing and returning money to avoid taxes.

Filing as a single taxpayer allows corporate groups to combine income and defer gains, but it requires adherence to specific consolidation rules.

Explore the historical rules of the Form 8917 Tuition and Fees Deduction, a tax benefit that expired after 2020, for amending prior-year returns.

State tax withholding directly impacts whether you get a refund or owe money at tax time. Learn how this prepayment system works and affects your tax liability.

A large lottery prize is a significant taxable event. Understand how federal rules, state laws, and payment choices shape your final tax liability.

Learn the financial framework for managing your farm or hunting property. Understand how to qualify your activities to maximize deductions and lower your tax liability.

Understand the complete process for a tax extension, including how to estimate your liability and the important distinction between filing and paying taxes.

Explore the strategic tax deferral for S corp shareholders under Section 965(i), including the circumstances that can accelerate the deferred tax liability.