Does My Foreign Spouse Need an ITIN?
Filing a U.S. tax return with a foreign spouse involves key decisions. Learn how your tax filing status creates the need for an ITIN and what the process entails.
Investment and Financial Markets
What Is an Invoice in Accounting and What Is Its Role?
Understand the invoice’s dual role as both a commercial document detailing a transaction and a critical trigger for a business’s financial accounting processes.
How Should a Widow File Taxes After a Spouse’s Death?
For a surviving spouse, tax rules change. Understand the financial implications and how to properly manage your tax situation after a loss.
Are Long Term Disability Payments Subject to FICA?
FICA tax on disability pay follows unique rules separate from income tax. Learn how timing determines your liability for this temporary tax obligation.
Rev. Proc. 2002-69: A Tax Safe Harbor for Stock Options
Rev. Proc. 2002-69 offers a tax safe harbor, clarifying how parent company stock can be used for subsidiary employee compensation without gain recognition.
How to Report Earned Dividends on Your Taxes
Learn the tax implications of your dividend earnings. This guide clarifies how to interpret tax forms and report your income correctly to ensure accurate filing.
What Are the Tax Advantages of the 529 MESP Plan?
Learn the financial mechanics of Michigan’s 529 MESP, a state-sponsored plan designed for tax-efficient growth and flexible education savings.
What Is the 606 Code for Revenue Recognition?
Understand the ASC 606 standard, a principle-based framework that standardizes how and when companies report revenue from customer contracts.
Is Software as a Service (SaaS) Taxable in Alabama?
Understand how Alabama’s tax laws classify digital products to determine if your Software as a Service (SaaS) is considered a taxable good or a non-taxable service.
Common Corporate Tax Loopholes and How They Work
Discover how the tax code’s complex design and intentional incentives create legal pathways for corporations to lower their tax liability.
What Is an Accrual Date and Why Does It Matter?
Understand the key timing principle that separates when a transaction is recorded from when cash is exchanged, giving a truer view of financial reality.
What Are Other Liabilities on a Balance Sheet?
Understand how various financial obligations are grouped on a balance sheet to improve readability without sacrificing necessary financial detail.
How Much Can You Contribute to a 401k?
Understand the mechanics of 401k contributions, from individual deferral limits to the total cap that includes all employer-related funds.
What is the Newsom Wealth Tax Proposal in California?
Explore California’s wealth tax proposal, including its approach to valuing global assets and its long-term tax implications for residents who leave the state.
Complying with Internal Revenue Code Section 105 h
Learn how IRC Section 105(h) governs self-insured medical plans, ensuring benefit equity and defining the tax outcomes when a plan favors key employees.
What Does a Partnership Representative Do?
The Partnership Representative holds exclusive authority in IRS proceedings. Understand the requirements and responsibilities of this critical compliance role.
What Is 2020 Form 5329 and How Do I File It?
Learn if you owe additional taxes on your IRA or retirement plan for 2020. This guide explains Form 5329 and how to correctly report any related penalties.
What Are the Rules for Cashing Out an IRA After 70?
In your 70s, specific guidelines govern IRA withdrawals. Learn how to manage your distributions correctly and understand their full financial impact on your retirement.
How to Make a 1023 Expedited Handling Request
Navigate the formal IRS procedure for requesting a faster review of your 501(c)(3) application based on specific, compelling organizational needs.
What Is Statutory Reporting? A Clear Definition
Explore statutory reporting, the mandatory financial filings for regulatory compliance. Learn how its conservative accounting framework focuses on solvency over performance.