Investment and Financial Markets

Explore the specifics of Rev Proc 2008-50, an IRS safe harbor that provides a clear pathway for claiming a theft loss deduction for certain investment losses.

Reference the official MACRS half-year convention depreciation rates and learn the framework for their correct application in business tax accounting.

Qualifying for a cattle tax write-off depends on your business intent, not herd size. Learn the IRS criteria for establishing a genuine profit motive.

Section 847 allows certain insurers to gain a tax timing benefit by accelerating a deduction for unpaid losses, balanced by subsequent income inclusion.

Navigate the complexities of a 1031 exchange. Learn how the structure of your transaction and strict compliance determine your ability to defer capital gains tax.

The S election effective date dictates when your new tax status begins. Learn the IRS timing rules to ensure your filing aligns with your intended start date.

Understand how a California pass-through entity can elect to pay state tax, which provides a direct tax credit for its owners on their personal returns.

Understand how U.S. tax residency is defined for non-citizens. Your physical presence, legal status, and connections to another country determine your tax liability.

The ability to deduct legal fees from a divorce depends on specific IRS rules and significant, recent changes in tax law based on when it was finalized.

This guide clarifies the calculations on Form 8606, helping you accurately track your IRA basis and report the taxable portion of your IRA activity.

A federal tax lien’s duration on property is not fixed. Learn about the 10-year collection statute and the specific actions that can pause this clock.

Understand how your level of involvement in a rental property can change its tax classification and allow you to deduct more losses against your income.

Section 1038 provides a mandatory tax framework for sellers reacquiring property, limiting the immediate recognized gain and establishing the new cost basis.

Learn how to properly document your energy-saving home improvements to successfully claim the federal residential energy credits on your tax return.

Paying tax on the same income in multiple jurisdictions? Understand the tax relief mechanisms designed to prevent this and lower your overall liability.

U.S. persons face unique tax rules on foreign income. This guide explains the key principles that determine your tax liability and the provisions for relief.

Understand the framework for classifying income by its geographic origin and how this fundamental step impacts U.S. tax calculations for global activities.