IRS Spousal IRA Contribution and Eligibility Rules
A Spousal IRA isn’t a special account, but a set of IRS rules that allows married couples to fund retirement savings for a partner with little or no income.
Investment and Financial Markets
What Are Audit Quality Indicators & How Are They Used?
Learn how specific data and qualitative observations foster a more substantive dialogue and a clearer understanding of audit effectiveness.
Are There Tax Benefits to Being Married?
Explore how marriage impacts your federal tax obligations. The financial interplay between spouses can result in either tax advantages or disadvantages.
What Tax Is Levied on an Asset Held for 12 Months or Longer?
Profits from assets held over a year receive special tax treatment. Understand how your cost basis, income level, and the asset type interact to determine what you owe.
How to Determine Fair Market Value for Rental Property
Determine a rental’s fair market value using a systematic process of data collection, analysis, and reconciliation for sound financial and tax planning.
How Does the Millionaire Tax in NY Work?
A detailed look at New York’s high-income tax structure. Understand how your residency status and income composition shape your total state and city tax liability.
When Does the Taxpayer Sign the Tax Return?
Understand the legal weight of your signature on a tax return. This final act confirms your review and responsibility for the information submitted to the IRS.
Rules and Regulations for an Educational Trust
An overview of the essential rules for managing an educational trust, covering the financial, legal, and administrative obligations from setup to distribution.
An Overview of the Curacao Tax System
A guide to the Curacao tax framework, explaining principles for individuals and businesses, and the legal structures available for investment and planning.
What Is the Deduction for Qualified PTP Income?
Explore the specific tax rules for Publicly Traded Partnership income, a distinct component of the Section 199A qualified business income deduction.
What Is Form 1099-DIV for Dividends and Distributions?
Understand the investment income reported on your Form 1099-DIV. Learn how dividends and capital gain distributions affect your personal tax return.
Box 8 on Your W-2: What Are Allocated Tips?
Find an amount in Box 8 of your W-2? This figure represents allocated tips, a form of income that requires you to report it and pay the associated taxes.
ESOP Owned S Corporations: Tax Benefits and Rules
Explore the financial and structural mechanics of an S corp ESOP. Understand the interplay between tax advantages and the strict regulatory framework required to maintain them.
Can You Write Off Babysitting on Your Taxes?
Babysitting costs are not a tax deduction, but a federal credit can help reduce your tax bill for care expenses that allow you to work or look for work.
What Is a 721 DST and How Does It Work?
Understand the process of exchanging a real estate asset for a passive interest in a larger portfolio, deferring taxes and simplifying estate planning.
The Gas Tax in Georgia: How It’s Calculated and Used
Understand the mechanics of Georgia’s gas tax, a user fee system that translates the price at the pump into funding for state road and bridge projects.
What Is an IRS Form 668-A (ICS) Notice of Levy?
An IRS Form 668-A levy is a legal seizure of assets. Understand the context behind this collection action and the structured process for resolution.
A History of Roth IRA Contribution Limits
Understand how legislative changes and economic adjustments have shaped Roth IRA contribution and income eligibility rules since their inception.
What Is a 3200 Form for Ambulance Services?
Understand the 3200 form, the official document that connects a patient’s condition to the requirement for non-emergency ambulance transport under Medicare.
How to Report Tax Evasion in California
Find a clear guide to the state and federal procedures for confidentially reporting suspected tax evasion in California.