Finance Lease vs. Operating Lease: ASC 842 Criteria and Effects
Learn how a finance lease vs operating lease is classified under ASC 842, from qualifying tests to accounting effects, ratio impacts, and tax treatment.
Form 5472 Due Date: Extensions, Late Filing, and Penalty Relief
Learn how the Form 5472 due date works, from getting extensions and foreign-owned entity rules to missed deadlines, late filings, and penalty relief.
Best Tax Structure for Flipping Houses: LLC, S-Corp, and QBI
Learn how flippers weigh the best tax structure for flipping houses, from entity choices and the S-Corp election to the QBI deduction and setup order.
Is Umbrella Insurance Tax Deductible? Personal, Business, and Rental
Learn when umbrella insurance is tax deductible across personal, business, and rental coverage, from premium treatment to payouts and recordkeeping.
Rolling Futures: Timing, Contango, and Tax Treatment
Learn how rolling futures contracts works, from timing and spread costs through contango effects to the tax treatment when a position moves forward.
Garage Door Depreciation Life: 27.5 vs. 39 Years
Learn how garage door depreciation life works on rental and business buildings, from setting the recovery period to handling replacements and tax at sale.
IRS Form 712 Instructions: Life Insurance Valuation for Form 706
Learn how IRS Form 712 works for life insurance on estate and gift tax filings, from valuing the policy and reporting it to filing deadlines and penalties.
Who Needs to File an Estate Tax Return? Thresholds and Portability
Learn who needs to file a federal estate tax return, from gross estate thresholds and spousal portability to state taxes and filing responsibilities.
Who Is the Responsible Party for a Trust EIN After Death?
Learn how the responsible party for a trust EIN after death is identified, from applying to the IRS through ongoing filing duties and later changes.
Capital Gains Tax on Commercial Property: Rates and Deferral Options
Learn how capital gains tax on commercial property works, from calculating the gain and applicable rates to options for deferring or reducing the bill.