Reporting Capital Gains on Assets Acquired After 2011
Understand how IRS cost basis reporting requirements for assets acquired after 2011 affect the way you calculate and report your investment gains and losses.
Investment and Financial Markets
Do RMDs Affect Your Social Security Taxes?
Understand how distributions from retirement accounts are treated as income, a factor that can change the taxability of your Social Security benefits.
Revenue Procedure 96-30: Requesting a Private Letter Ruling
Explore the official IRS framework for requesting a Private Letter Ruling under Rev. Proc. 96-30 to achieve tax certainty for corporate reorganizations.
How the De Minimis Tax Rule Affects Municipal Bonds
The tax treatment of a market discount on a municipal bond affects your net return. Learn how the de minimis rule determines if this gain is taxed as capital or ordinary income.
Do All Pension Payments Stop at Death?
Whether pension payments continue after death is determined by the payout structure selected years earlier when benefits first began.
How to Check Your Form 1045 Refund Status
Understand the distinct IRS procedures for a Form 1045 tentative refund, a process managed separately from standard income tax return inquiries.
Form 8939 Instructions for Allocating Basis Increase
Review the historical purpose of Form 8939, the one-time election for 2010 estates to allocate an increased basis instead of paying federal estate tax.
IRS Pub 15: Employer Payroll Tax Responsibilities
Navigate your federal payroll obligations with clarity. This guide breaks down the complete employment tax cycle for business owners based on IRS Pub 15.
Analytical Review: Meaning, Objectives, and Procedures
Examine how auditors evaluate financial information by forming data-driven expectations to assess reasonableness and uncover potential misstatements.
What Is a Section 951A (GILTI) Inclusion?
Understand the Section 951A (GILTI) tax regime, which affects U.S. shareholders of foreign corporations by imposing a tax on offshore intangible income.
Why Should I Keep My Grocery Receipts?
Your grocery receipt is more than proof of purchase. It’s a key document for financial insight, unlocking savings, and validating essential expenses.
How to Get Tax Savings on Your Mortgage
Understand the key financial decisions and documentation required to potentially reduce your tax liability through your home mortgage.
How Much Can You Contribute to a Solo 401k?
Unlock the full contribution power of a Solo 401k. This guide clarifies how your business income and structure translate into your personal savings limit.
What Happens to a 1031 Exchange When the Owner Dies?
Explore the interaction between 1031 exchanges and estate planning. An owner’s passing can create unique tax advantages and challenges for heirs.
Does Pennsylvania Accept Federal Extension for Partnerships?
Understand how to use a federal extension for your PA partnership return and the key procedural steps required for state tax payment and compliance.
Does New Mexico Have an Estate Tax?
Learn how New Mexico taxes assets after death. While the state has no estate tax, its laws may still impact the inheritance a beneficiary receives.
How Pension Income is Taxed in India
Navigate the tax rules for pension income in India. Learn how your liability changes based on your employer type and the structure of your payments.
Do I Need a K-1 to File My Taxes?
A Schedule K-1 reports your share of an entity’s financial results on your return, which often differs from the actual cash distributions you received.
Is Shipping Taxable in Texas?
Learn the principles for applying Texas sales tax to shipping. How delivery charges are taxed depends on the product’s taxability and invoice details.
Alternate Valuation Date and Step-Up in Basis
Learn how the alternate valuation date offers a strategic option for valuing inherited property, balancing estate tax liability and the beneficiary’s future cost basis.