Promissory Note Tax Implications for Lenders, Borrowers, and Heirs
Learn how promissory note tax implications work for lenders, borrowers, and heirs, from interest and forgiveness to family loans and inherited notes.
Reverse Morris Trust: Definition, 50% Rule, and Tax Traps
Learn how a Reverse Morris Trust works, from the ownership and spin-off rules to merger conditions, timing traps, and what happens if the structure fails.
Like-Kind Exchange GAAP Treatment: ASC 845 Substance and Boot
Learn how like-kind exchange GAAP treatment works under ASC 845, from commercial substance and asset measurement to handling boot, gains, and losses.
Can a Minor Inherit an IRA? Custodians, Payouts, and Taxes
Learn how a minor can inherit an IRA, from custodial setup and payout timelines to tax treatment and what changes once the child reaches adulthood.
What Happens If You Go Over Your HSA Contribution Limit?
Learn what happens if you go over your HSA contribution limit, from the recurring penalty and correction windows to employer errors and required tax forms.
Overpaid Social Security Tax After a Job Change: How to Claim the Refund
Learn how to recover overpaid Social Security tax after a job change, from claiming the credit to prior-year deadlines and special filing situations.
Who Pays Property Taxes in a Contract for Deed?
Learn who pays property taxes in a contract for deed, from contract terms and payment methods to unpaid-tax risks and ways buyers can protect themselves.
GAAP Legal Settlement Accounting: Accrual, Disclosure, and SEC Rules
Learn how GAAP legal settlement accounting works, from deciding when to accrue a loss through measurement and disclosure, with added rules for public companies.
What Are Controllable Expenses? Definition, Examples, and Uses
Learn how controllable expenses work in accounting, from what puts a cost under a manager's control to how the classification shapes budgets and reviews.
What Is IRC 1012? Cost Basis Rules for Real Estate and Stocks
Learn how IRC 1012 cost basis rules work for real estate and securities, from what counts as cost at purchase to adjustments over time and recordkeeping.