Are Guaranteed Payments Reported on 1099 or K-1?
Learn how guaranteed payments to partners are reported on a K-1 rather than a 1099, from the reasoning and mechanics through partner-level tax handling.
ESOP Rollover Rules: Direct, Indirect, NUA, and Section 1042
Learn how ESOP rollover rules work, from moving your balance into an IRA or another plan to handling employer stock and the tax elections tied to it.
What Is a GL Code in Accounting and How Does It Work?
Learn how a GL code works in accounting, from where these codes live and how they're structured to how they shape transactions, reporting, and taxes.
How to Report UTMA on Taxes: Kiddie Tax and Filing Methods
Learn how to report a UTMA account on taxes, from choosing a filing method and the kiddie tax to handling sales and what shifts when the child ages out.
Are Adoption Fees Tax Deductible or a Credit?
Learn whether adoption fees are tax deductible or eligible for a federal credit, from qualifying costs and eligibility to timing and how to claim it.
How Are Gift Cards Recorded in Accounting: Entries, Breakage, Tax
Learn how to record gift cards in accounting, from the entries at sale and redemption through breakage, tax timing, and balance sheet presentation.
Broker-Dealer Audit: Net Capital, Customer Protection, and Filings
Learn how broker-dealer audit requirements work, from who performs the engagement to the compliance testing, reporting standards, and filings that follow.
How to File IRS Form 8829 for Home Office Deductions
Learn how to file IRS Form 8829 for a home office deduction, from qualifying the space and figuring expenses to claiming the deduction and recordkeeping.
Form 1120-H 90% Expenditure Test: What Qualifies and Penalties
Learn how the Form 1120-H 90% expenditure test works for HOAs, from qualifying costs and mixed-use allocations to what happens if the threshold is missed.
How to File an Irrevocable Life Insurance Trust Tax Return
Learn how an irrevocable life insurance trust tax return works, from premium gift reporting during life to post-death filings, deadlines, and penalties.