What Are Uncontrollable Expenditures?
Understand why most federal spending is determined by existing laws, not the annual budget process, and how this affects government fiscal flexibility.
Investment and Financial Markets
What Is 1099 Investment Income and How Do You Report It?
Understand the tax implications of your investment income. Learn to interpret 1099 forms and correctly report earnings and gains on your annual tax return.
IRC 2502: Who Pays the Federal Gift Tax?
While the donor is responsible for the gift tax, the final liability is determined by a cumulative lifetime calculation and the unified tax credit.
Material Participation vs. Active Participation
Understand how your level of involvement in an activity dictates its tax treatment and your ability to deduct losses under IRS passive activity rules.
What Happens If You Have to Amend Your Taxes?
Correcting a tax return is a standard process. Gain a clear understanding of when an amendment is needed and the typical outcomes of resubmitting your information.
How to Transfer Real Estate Out of an S Corp
Moving real estate out of an S Corp requires navigating complex tax rules for both the entity and its owners. Plan your distribution with a clear view of the consequences.
Does Coinsurance Count Towards Deductible?
Clarify how your health insurance payments work. Learn the specific order for paying your deductible and coinsurance and how this structure impacts your total costs.
How Does the DC Capital Gains Tax Work?
Navigate the District of Columbia’s unique capital gains tax system, where gains are treated as ordinary income, impacting your final tax obligation.
How to Claim the Sick and Family Leave Credit
Eligible businesses and self-employed individuals can amend prior-year tax returns to claim the Sick and Family Leave Credit for 2020 and 2021.
S Corporation Owner Retirement Plan Options
Learn how an S Corp’s unique compensation structure—the difference between salary and distributions—is the foundation for your retirement plan strategy.
What Is a Blended Rate in Finance and Payroll?
Understand how a weighted average combines multiple financial or pay rates into a single, representative figure for clearer, more accurate calculations.
Is Accounts Receivable a Form of Equity?
Learn why accounts receivable is an asset, not equity. This guide explains their distinct roles and the important, indirect connection they share on the balance sheet.
What Is a 501(c)(3) and How Do You Get One?
Gain a clear understanding of what a 501(c)(3) is, the legal and operational standards required, and the procedural steps to secure and maintain this status.
Ohio State Tax Brackets and Income Rates
Learn how Ohio’s income tax system works. This guide clarifies the process for determining your tax obligation based on state-specific rates and rules.
How to Report Options Trading on Your Tax Return
Navigate the tax reporting requirements for options trading. Understand how to correctly account for gains, losses, and complex trading scenarios on your return.
What Is Applied Overhead and How Is It Calculated?
Learn the accounting system for allocating indirect manufacturing costs, a vital process for achieving accurate product costing and profitability analysis.
Is Imputed Life Insurance Taxable Income?
Discover the tax implications of group-term life insurance from your employer. Learn how this common, non-cash benefit can affect your taxable wages.
What Are the Main Things That Get Taxed?
Learn how taxation is woven into your financial life, impacting not just what you earn, but also what you own, purchase, and pass on to others.
What Is Regulation 1.6081-5? Automatic Tax Extension
Understand IRS Regulation 1.6081-5, which allows an automatic six-month filing extension for businesses that properly estimate tax and submit Form 7004.
What Happens When an Estate Is an IRA Beneficiary?
When an estate inherits an IRA, it triggers specific distribution rules that can accelerate taxes and involve the probate court, affecting the final inheritance.