What If Your Self-Employed Deductions Exceed Your Income?
Learn what happens when self-employed deductions exceed income, from how the loss lands on your 1040 to yearly usage caps, carryovers, and hobby-loss risk.
How Long to Depreciate a Roof on Rental Property: 27.5 Years
Learn how long to depreciate a roof on rental property, from residential and commercial timelines to capitalization choices and tax impact at sale.
CPA Trust Account Requirements: Reconciliation, Oversight, and Penalties
Learn how CPA trust account requirements work, from titling and funding the account through reconciliation, regulatory oversight, and eventual closure.
Section 7872(e)(2) Blended Annual Rate for Demand Loans
Learn how the Section 7872 blended annual rate applies to below-market demand loans, from figuring imputed interest to exceptions, tax reporting, and records.
Can an S Corp Own a C Corp? Tax Layers, QSub, and Traps
Learn how an S corp can own a C corp, from the double layer of tax and passive income risks to benefit plan rules and when a QSub election works better.
What to Do With Leftover 529 Funds After College
Learn what to do with leftover 529 funds after college, from changing beneficiaries and other qualified uses to Roth rollovers or a taxable withdrawal.
HSA Additional Contribution Over 55: Eligibility, Limits, and Deadlines
Learn how the HSA catch-up contribution over 55 works, from eligibility and spousal rules to deadlines, excess contributions, and long-term payoff.
Form 965-A Instructions: Installments, Due Events, and Penalties
Learn how Form 965-A instructions work, from reporting the Section 965 transition tax and tracking installments to acceleration events and penalties.
What Is Payroll Accrual and How to Calculate It
Learn how payroll accrual works, from what belongs in the entry and how to calculate it to recording, reversing, and tax and materiality issues.
How to Know If You Itemized Deductions Last Year: Form 1040 Line 12
Learn how to know if you itemized deductions last year, from checking your Form 1040 and locating missing copies to state refund effects and fixing errors.