Investment and Financial Markets

Examines how nonrecourse debt is taxed in property sales, clarifying why the full liability is realized even when it exceeds the property’s fair market value.

Understand the nuances of Florida’s tax landscape. While there’s no state income tax, residents are still subject to federal income tax laws.

Your 1099-B has data beyond the main boxes that affects your taxes. Learn how to interpret and correctly report this supplemental information.

Pennsylvania treats unemployment income differently for federal, state, and local taxes. Learn the requirements for each to manage and report your benefits correctly.

Learn how Rev. Rul. 83-70 guides the tax treatment of assumed vacation pay in an asset sale, impacting the buyer’s basis and the seller’s sale price.

Missing the tax deadline has distinct financial outcomes. Learn the procedural steps for filing after the due date and how to manage your obligations to the IRS.

Clarify the differences between your company’s book profit and taxable income. This guide explains the purpose and logic behind Schedule M-1 reconciliation.

An IRS ruling clarifies when an athletic scholarship is considered payment for services versus tax-free aid, based on the grant’s underlying purpose.

Navigating taxes as a college student can be confusing. This guide clarifies how dependency status and education-related finances affect your responsibility to file a return.

Understand the tax provisions for selling an inherited home as a surviving spouse to properly calculate gain and maximize your available capital gains exclusion.

Learn how Revenue Ruling 83-59 provides a framework for valuing preferred stock, influencing corporate transactions and modern estate planning strategies.

Understand how the IRS defines a closely held business based on ownership concentration and the specific tax implications that result from this classification.

Learn how Michigan uses your federal AGI to tax capital gains at a flat rate and explore state-specific deductions that can lower your tax liability.

Understand how IRS Section 530 offers relief from employment tax liability through consistent and historically-supported worker classifications.

Your W-2 doesn’t have a single gross income box. Learn how to interpret the different wage figures to understand your true taxable income and deductions.

The EV tax credit is nonrefundable, limiting its value to your tax liability. Learn how this works and explore the point-of-sale option for an immediate discount.

Understand the tax treatment for your business’s formation expenses. Following the correct procedure for amortizing costs is essential for your deduction.

A guide to the Pillar Two global minimum tax, explaining its core enforcement mechanisms, computational framework, and new compliance obligations for MNEs.

Understand how IRS Revenue Ruling 71-43 established key criteria for defining payments as wages based on the nature of the employer-employee relationship.