Virginia State Sales and Use Tax Requirements
Understand your business’s sales and use tax responsibilities in Virginia. This guide explains how nexus, product taxability, and local rates shape compliance.
Investment and Financial Markets
How Do Business Tax Write Offs Work?
Effectively lower your business’s taxable income by understanding the logic behind deductions, from qualifying expenses to the required documentation.
What Is the Accelerated Attribution Method?
Understand the accelerated attribution method, an accounting approach for recognizing post-retirement benefit costs over an employee’s service to full eligibility.
Do You Get a W-2 for Workers’ Comp?
Understand the tax classification of workers’ comp payments. Learn why these benefits are usually tax-free and what specific situations can create a tax liability.
Are Malpractice Settlements Taxable?
Not all malpractice settlement funds are treated equally by the IRS. Learn how the specific allocation of damages determines what is and is not taxable.
Capital Expenditures on a Rental Property
Gain a clear understanding of how to account for major rental property upgrades to ensure tax compliance and support your investment’s financial strategy.
Inherited IRA Rules for a Disabled Beneficiary
Navigate the regulations for a disabled individual inheriting an IRA to utilize a lifetime payout schedule and preserve eligibility for government assistance.
What Is Form 433-A Used For and When Is It Required?
Explore how the IRS uses the financial data on Form 433-A to determine your ability to pay and establish a resolution for your outstanding tax liability.
What Is CA Revenue and Taxation Code 390?
Delve into the California law that defines the government’s power over tax-delinquent properties and the specific rights afforded to property owners.
Form 8894: How to Stop Filing Certain Excise Taxes
When a business activity that incurs excise tax has permanently ended, Form 8894 is used to request formal relief from future filing obligations.
Is a 401(k) Considered a Retirement Plan?
A 401(k) is a qualified retirement plan whose structure is defined by its employer-sponsorship, tax-advantaged design, and long-term savings focus.
What Is the 20 Percent Rule for Business Income?
The Qualified Business Income (QBI) deduction offers a tax benefit, but its application varies based on your income level and business structure.
Can You Write Off a Tesla on Your Taxes?
Thinking of writing off a Tesla? Your eligibility for tax savings depends on the specific model, its primary use, and even your personal income level.
Welch v. Helvering: Defining “Ordinary & Necessary” Expenses
An analysis of *Welch v. Helvering*, the case that established the lasting U.S. tax law standard separating deductible expenses from capital outlays for goodwill.
Who Pays the Social Security Taxes Levied by FICA?
Understand how financial responsibility for Social Security and Medicare taxes shifts based on your employment status and total annual earnings.
What Is a Bona Fide Business Purpose?
Understand the critical legal standard that distinguishes genuine business strategy from tax avoidance, ensuring your transactions have economic substance.
When Should You Get Your Form 1098-T?
Your Form 1098-T is a key document for education tax credits. Learn the procedural details of its issuance and how it impacts your annual tax filing.
What Is the Meaning of Operating Income?
Understand how operating income offers a clear measure of a company’s core operational efficiency by isolating profitability from financing and tax strategies.
How to File Your Taxes After an Extension
Finalize your tax return after an extension. This guide explains how to properly account for your estimated payment and complete the final steps with the IRS.
What Are Your Rights Under ERISA Section 105?
ERISA Section 105 grants you legal rights to key information about your employee benefit plan, ensuring transparency and accountability from plan administrators.