What Is S125med? FSA Limits, Carryover, and Election Changes
Learn how the S125 pre-tax health deduction works on your paycheck, from FSA rules and mid-year election changes to what happens when you leave a job.
How to Avoid Capital Gains Tax in Divorce: Section 1041 and Timing
Learn how to avoid capital gains tax in divorce, from the spousal transfer rules and timing to handling the marital home and retirement accounts at sale.
Accrual Reversal: How It Works, What to Skip, Tax Timing
Learn how reversing accrual entries works, from picking which items to flip and handling prepaids to tax timing and staying consistent across periods.
What Does Incur Expenses Mean in Accounting?
Learn what it means to incur an expense in accrual accounting, from how timing is determined to key exceptions and the risks of getting it wrong.
How to Report Nondividend Distributions on Your 1040
Learn how to report nondividend distributions on your 1040, from tracking basis reductions to gains at sale and rules for S corporation shareholders.
What Is Tax Code 152: Dependent Tests, Credits, and Tie-Breakers
Learn how tax code 152 defines a dependent, from the qualifying child and relative tests to overlapping claims and the credits and filing status at stake.
Can an LLC Be a Qualified Joint Venture? The Community Property Rule
Learn whether an LLC can be a qualified joint venture, from the IRS exclusion and community property workaround to filing risks for spouses running a business.
Franchise Accounting: Fees, Royalties, and Revenue Recognition
Learn how franchise accounting for fees and royalties works for both parties, from initial payments and ongoing costs to tax treatment and franchise exits.
Negative Deferred Revenue: Causes, Fixes, and Prevention
Learn how negative deferred revenue happens, from common accounting causes through corrective entries and practices that keep the balance from returning.
How to Deduct Communication Expenses on Taxes
Learn how to deduct communication expenses on taxes, from what qualifies and splitting business use to recordkeeping and the different rules for employees.