What Is Basic Life Imputed Income and How Is It Taxed?
Employer-provided life insurance isn’t always tax-free. Explore how the IRS assesses the value of this benefit and its impact on your overall taxable wages.
Investment and Financial Markets
How to Perform a Statement Reconciliation
Understand the principles of statement reconciliation to confirm the accuracy of your financial records and gain a clearer view of your true cash position.
Does Missouri Tax Military Retirement?
Understand Missouri’s tax rules for military retirement pay. Your final tax obligation is often shaped by income limits and other specific state provisions.
What Is a Misstatement in Financial Reporting?
Understand the nuances of inaccuracies in financial reports. Learn why the context and scale of an error are critical in assessing its overall impact.
What Is an ERISA Audit and Do I Need One?
Understand the purpose of an ERISA audit and the key responsibilities a plan sponsor has for ensuring a compliant and successful engagement.
Section 334: Basis of Property Received in Liquidations
Understand how asset basis is determined in a corporate liquidation. Learn if a recipient’s basis is the asset’s fair market value or a carryover from the company.
How Do I Qualify for an IRS Hardship?
Learn how the IRS determines financial hardship based on your income and living expenses, and the steps for requesting a pause on tax collection.
How to Handle California’s Used Car Sales Tax
Navigate the financial requirements of buying a used car in California. Understand the use tax process to ensure a smooth and compliant vehicle registration.
St. Louis County Personal Property Tax on a Car
Navigate the St. Louis County annual car tax. This guide explains how your vehicle’s value is assessed and what documentation you’ll need for registration.
Do I Have to Report 1099-K Income?
A 1099-K shows gross payments, but not all of it may be taxable. Learn to classify your transactions and report the correct amount on your tax return.
What’s Included in the Cost of Advertising for a Business?
Understand the full financial scope of advertising beyond just media spend. This guide provides a complete breakdown for accurate business budgeting.
Can I File My 2022 and 2023 Taxes Together?
Each tax year requires its own return. Learn the distinct procedures for submitting a past-due return alongside your current year’s taxes to the IRS.
Rev Proc 2014-18: The Streamlined Foreign Procedures
This guidance outlines an IRS pathway for certain U.S. taxpayers abroad to correct previous filing oversights and become compliant without penalty.
What Is Tangible Personal Property in Florida?
Understand the tax obligations for business assets in Florida. This overview covers property classification and the annual assessment and payment process.
What Are AGI Limitations on Tax Deductions and Credits?
Your adjusted gross income can limit your tax savings. Understand how AGI thresholds affect key deductions and credits, and learn ways to manage this important number.
Gross vs. Net Distribution: What’s the Difference?
Learn why the total value of a financial payment differs from the final amount you receive. This guide explains the calculation that determines your take-home value.
How to Get 801 c (501c) Tax-Exempt Status
Learn the foundational principles and key procedures for securing and maintaining official 501(c) tax-exempt status for a nonprofit organization.
Can I Contribute to a 401k If I’m Unemployed?
Unemployment affects 401(k) contribution rules. Learn how to manage your existing retirement funds and explore other savings strategies during a job transition.
What Is IRS Tax Code 180 for Farm Expenses?
Understand how IRS Section 180 allows farmers to immediately deduct soil enrichment costs, impacting annual tax strategy and cash flow.
How Partnership Equity Is Calculated and Taxed
A partner’s equity involves two distinct calculations: their economic stake and their tax position. Learn how these values are determined and how they govern tax liability.