What Is Form 165 K-1? It’s Likely a Schedule K-1
Received a Schedule K-1? Learn what this tax document means, how its figures reflect an entity’s performance, and its role in your personal tax filing.
Investment and Financial Markets
What Can Take Your Federal Tax Refund?
Learn the official process for how government agencies can collect certain debts from your tax refund and what your rights and response options are.
What Are the Penalties of Perjury for an IRS Statement?
Learn the legal significance of signing your tax return. This guide covers the IRS’s framework for addressing inaccuracies, from simple errors to willful falsehoods.
Do Swiss Banks Report Accounts to the IRS?
Explore how international agreements have reshaped Swiss banking, creating distinct reporting duties for both banks and U.S. taxpayers with foreign accounts.
Can You Change Dependent Care FSA Contribution Mid-Year?
Dependent Care FSA elections are usually fixed for the year. Learn about the specific life events that allow you to modify your contribution and the required steps.
Do Presidents Have to Pay Federal Income Taxes?
U.S. presidents have the same federal income tax obligations as other citizens. Learn how their unique position impacts their financial responsibilities.
FAS 13 Lease Accounting: Capital vs. Operating Leases
Examine the former FAS 13 standard, which defined the critical distinction between a simple rental and a financed purchase for lease accounting.
Illinois Estimated Taxes: Requirements and Deadlines
Navigate Illinois’s pay-as-you-go tax system. This guide clarifies how to manage state income tax on earnings not subject to standard withholding.
Can a DBA Be a Partnership? An Important Distinction
Understand the distinction between a business’s legal structure and its operating name to ensure your co-owned enterprise is set up properly.
How to Record Adjustments for Accrued Revenues
Learn the essential accounting adjustment for accrued revenue to ensure financial statements accurately reflect income when it is earned, not just when it is billed.
How an LLC Donation Tax Deduction Works
Understand the mechanics of an LLC charitable donation deduction. The method depends on your entity’s tax status, impacting either owner or company returns.
How to File Form IT-203-X to Amend a NY Tax Return
Learn the correct procedure for amending a New York nonresident or part-year resident tax return with Form IT-203-X to ensure your filing is accurate.
Charity Tax Code: Rules for Deductions
Understand the tax code’s framework for charitable donations. This guide clarifies the rules for making your contributions count as a valid tax deduction.
What Are the Section 2701 Special Valuation Rules?
Learn how IRC Section 2701 governs the valuation of family business transfers for gift tax, focusing on how retained interests are treated for an accurate assessment.
How to Report a Line of Credit on a Balance Sheet
Learn the accounting principles to translate a flexible line of credit into an accurate liability on your company’s financial statements.
What Is Authoritative Accounting Guidance?
Understand the system behind financial reporting. Learn how accounting standards are developed, structured, and applied to ensure consistent and transparent results.
What Are the GAO Standards for Auditing?
Discover the auditing standards governing government entities and funds. This framework provides essential requirements for ensuring public accountability and integrity.
How to Pay Your Idaho State Tax Bill
Find a straightforward guide to settling your Idaho state tax balance. Understand the necessary information and processes for making a successful payment.
What to Know When Converting an IRA to a Roth
Converting a traditional IRA to a Roth requires careful planning around key tax principles to ensure the long-term benefits of the financial strategy are realized.
Taxes on Collectibles: What You Need to Know
Selling collectibles involves a unique set of tax rules. Learn how these regulations differ from other investments and what it means for your financial outcome.