H1B Visa Holder Rental Income: Passive Rules, Taxes, and LLCs
Learn how H1B visa holder rental income works, from staying on the passive side of the line to taxes, ownership structures, and selling the property.
Controversial Issues in Accounting: Goodwill, Crypto, and Leases
Learn how controversial issues in accounting play out, from asset valuation and revenue timing to auditor independence and emerging disclosure debates.
1031 Exchange Repair Costs: Allowed or Taxable Boot?
Learn how 1031 exchange repair costs are handled, from repairs versus capital improvements to proper funding structures and the tax cost of boot.
Section 267(c): Constructive Ownership, Family and Partner Attribution
Learn how Section 267(c) constructive ownership rules attribute stock from entities, family, and partners to decide when two parties count as related.
IRS Form 706: Filing, Deadlines, Penalties, and Extensions
Learn how IRS Form 706 works, from who must file and valuing the estate to taking deductions, meeting deadlines, and handling penalties and extensions.
How to Close an EIN Account With the IRS: Letter and Final Returns
Learn how to close an EIN account with the IRS, from wrapping up final returns and sending the deactivation letter through what to expect afterward.
How Long Should I Keep Tax Returns: 3, 6, or 7 Years?
Learn how long to keep tax returns, from the default federal window to longer holds for underreporting, investments, property, and payroll records.
Interest Reserves: How They Work, Draws, and Tax Treatment
Learn how an interest reserve works on a construction loan, from sizing and funding through draws, depletion, and accounting and tax treatment.
Carryover Charitable Contributions: Five-Year Window and Ordering
Learn how a charitable contribution carryover works, from how excess donations roll forward and apply in later years to what can wipe them out entirely.
Accounting for a Partner Buyout: Methods, Tax, and Filings
Learn how accounting for a partnership partner buyout works, from structuring the deal and booking entries to tax treatment and required filings.