Revenue Ruling 59-60: Factors for Business Valuation
Delve into the principles of Revenue Ruling 59-60. Understand the analytical framework and judgment required to determine the value of a private company.
Investment and Financial Markets
What Are the 457(b) Contribution Limits for 2024?
Understand the unique 2024 contribution rules for 457(b) plans and how its deferral limits coordinate with other retirement accounts like a 401(k) or 403(b).
Can I Pay Myself a W-2 From My LLC?
Your LLC’s tax classification, not its legal type, determines if you can receive a W-2. Learn about the election that makes an owner a salaried employee.
What Is Considered a Material Expense in Accounting?
Understand how an expense’s significance dictates its journey through accounting records, ultimately shaping financial statements and tax obligations.
IRC 2514: Gift Tax Rules for Powers of Appointment
Explore the gift tax implications of a power of appointment under IRC 2514. Learn how certain lifetime decisions can be treated as a taxable transfer.
What Is the Penalty for Not Having Health Insurance in NJ?
Understand the financial implications of NJ’s health coverage mandate. This guide details how the requirement affects your 2023 state tax return.
Discharge of Indebtedness Income: Is It Taxable?
Canceled debt is generally considered income by the IRS, but certain financial circumstances can exempt it from your taxes. Learn how to determine if it applies.
FAS 60: Accounting and Reporting by Insurance Enterprises
Explore the foundational accounting principles for insurance enterprises under U.S. GAAP, governing how revenue is recognized and future liabilities are measured.
What Are Impairment-Related Work Expenses?
Learn how costs related to an impairment that enable you to work receive unique tax treatment, separate from medical or other business expense deductions.
1.706-4: Rules for Varying Partnership Interests
Explore the tax principles for allocating partnership income and deductions when ownership interests shift, ensuring equitable and compliant results for all partners.
What Are Substantial Services in Self-Employment?
If you’re self-employed and collecting Social Security, understand how the nature of your work, not just your earnings, can affect your benefit payments.
Accounting Treatment for Seller Transaction Costs
Learn the critical accounting distinctions for costs in a business sale, which determine their impact on reported profit and shareholder equity.
How Much Are Taxes on a Car in Missouri?
Understand the full financial commitment of car ownership in Missouri, from the initial tax calculation to recurring annual costs based on your county.
How to Qualify for a Higher Standard Deduction
Your standard deduction might be higher than you think. Find out if your personal situation qualifies you to lower your taxable income even further.
What Are SECA Taxes and Who Has to Pay Them?
Understand how self-employment tax funds Social Security and Medicare. This guide covers the complete tax cycle, from liability calculation to its impact on your return.
How Are Gains in VUL Sub-Accounts Taxed on Transfer?
Understand the tax framework for a VUL’s cash value. Learn the key distinction between internal fund reallocations and taxable policy distributions.
Revenue Ruling 71-35 and Corporate Liquidations
Understand the tax framework that permits a liquidating corporation to retain its legal identity to resolve ownership of specific, non-assignable assets.
How to File State Income Tax in Iowa
Learn the fundamentals of filing Iowa income tax, including how to adjust your federal AGI and apply state-specific modifications for an accurate return.
Can I Buy a House as a Primary Residence and Rent It Out?
Converting your primary residence to a rental property requires navigating specific financial, legal, and insurance obligations to do so successfully.
How to File Form 8850 for the WOTC Tax Credit
Learn the correct procedure for using Form 8850 to pre-screen new hires and claim the Work Opportunity Tax Credit for your business.