Do You Have to Report Stolen Goods to the IRS?
Discover the IRS’s tax rules for stolen property. Learn how theft creates a tax obligation for the thief and the conditions under which a victim can claim a loss.
Investment and Financial Markets
Form 8594 Examples: A Walk-Through for Asset Sales
Ensure consistent tax reporting for your business asset sale. This guide clarifies how to properly allocate the purchase price on Form 8594 with examples.
How to Respond to a 4800c Letter From the IRS
Receiving an IRS 4800c letter is a routine identity verification measure. Learn the context behind this notice and the steps to securely confirm your information.
Revenue Code 274: Rules for Business Expense Deductions
Navigate the IRS rules of Revenue Code 274, which limit deductions for certain business expenses and detail the specific proof needed to claim them.
Can a Charity Be a Beneficiary of an IRA?
Understand the tax-efficient transfer of IRA assets to a charity and the essential planning considerations for your estate and other beneficiaries.
Revenue Code 171: Tax Rules for Bond Premiums
Understand the tax treatment when you pay more than a bond’s face value. This guide explains how your tax reporting choices affect your investment returns.
Net Current Asset Value (NCAV): What It Is & How to Use It
Understand a conservative valuation method that weighs a company’s liquid assets against all liabilities to find stocks trading below their liquidation value.
FBAR Filing Requirements for a Non-Resident Alien
Clarifying FBAR filing obligations for non-resident aliens. Learn when your U.S. tax status may differ from your foreign account reporting requirements.
How Much Is the Gift Tax in New Jersey?
While New Jersey has no state gift tax, residents should understand how federal gift tax and the state’s inheritance tax can impact financial giving.
How to Report 1099 Income on Schedule C
Learn to report 1099 income using Schedule C to calculate your net profit and understand its connection to your personal tax return and overall liability.
Can I Take Money Out of My IRA and Put It Back in 60 Days?
Understand the regulations for using IRA funds on a short-term basis. This guide explains the critical rules for redepositing money to protect its tax status.
HSA Contribution Limit: Rules and Consequences
Navigate Health Savings Account contribution rules to maximize your tax benefits and maintain compliance with IRS regulations.
DST Tax Reporting for Real Estate Investors
For real estate investors, this guide clarifies the tax reporting obligations unique to a Delaware Statutory Trust, from annual operations to asset disposition.
How to Report Schedule 8812 Advance Payments Received
Learn how Schedule 8812 is used to correctly account for 2021 advance Child Tax Credit payments and finalize the total credit on your tax return.
What Is a Tourist Tax and How Does It Work?
Understand how destinations use visitor fees, often added to your accommodation bill, to fund local services and manage the economic effects of tourism.
Do HSA Payments Count Towards Your Deductible?
Learn how using your Health Savings Account for medical care impacts your insurance deductible and what determines if a payment is credited toward your plan.
What Is a Minimum Interest Charge and How Does It Work?
Discover the minimum interest charge, a fixed fee that can replace the standard APR calculation when you carry over a very small credit card balance.
What Federal Employment Tax Forms Do Employers File?
Understand the employer’s role in managing federal employment taxes, from collecting employee information to reporting and depositing funds with the IRS.
What Was the Omnibus Budget Reconciliation Act of 1987?
Discover how the Omnibus Budget Reconciliation Act of 1987 responded to fiscal pressures by reshaping federal oversight of social programs, business finance, and taxation.
The Fire Sprinkler Incentive Act and Tax Deductions
Recent tax law changes may allow commercial property owners to deduct the full cost of a fire sprinkler system in the year of installation.