How to Set Up an IRS Online Payment Agreement (OPA)
Learn how an IRS online payment agreement works, from eligibility and costs through applying, keeping the plan current, and handling changes or defaults.
Book Depreciation Lives: Ranges, Methods, and Salvage Value
Learn how book depreciation useful life works under U.S. GAAP, from estimating asset lifespans and typical ranges to choosing methods and revising later.
What Are Patronage Dividends and Are They Taxable?
Learn how patronage dividends are taxable, from personal versus business purchases to where to report them and how the co-op's payment form sets the year.
Are Checks Taxed? Taxable Sources, Exemptions, and Reporting
Learn how checks are taxed by the IRS, from the income sources that count and the payments that don't through reporting rules and nonfiling consequences.
Late Fee Accounting Entry: Recording, Write-Offs, and Tax
Learn how the late fee accounting entry works, from recording charges on either side of an invoice through timing, write-offs, and tax treatment.
Do I Have to Issue a 1099 to My Cleaning Lady?
Learn whether you have to issue a 1099 to your cleaning lady, from how the IRS classifies household workers to the tax and reporting duties that may apply.
What Is a Credit Note in Accounting? Uses, Records, and Controls
Learn how a credit note in accounting works, from why sellers issue one and how both sides record it to tax adjustments, fraud controls, and recordkeeping.
Parent Company and Subsidiary Accounting Methods
Learn how parent company and subsidiary accounting methods work, from passive stakes and significant influence through full control and intercompany cleanup.
IRC 195 Start-Up Expenditures: $5,000 Cap and 180-Month Amortization
Learn how IRC 195 start-up expenditures work, from what qualifies and when a business begins to amortization rules, early closures, and how to file.
IRS Section 180 Deduction: Eligibility, Election, and Recapture
Learn how the IRS Section 180 deduction works for farmers, from qualifying soil inputs and the annual election to recapture rules when the land is sold.