Lease Modification Under ASC 842: Remeasurement and Discount Rate
Learn how a lease modification under ASC 842 is accounted for, from identifying qualifying changes to remeasuring the lease and updating the discount rate.
Can My LLC Rent From Me: Fair Rent, Self-Rental, and QBI
Learn when your LLC can rent from you, from entity tax treatment and fair-market leases to self-rental rules, QBI, and keeping the liability shield intact.
Internal Control Evaluation: Scoping, Testing, and Deficiencies
Learn how an internal control evaluation works, from scoping and framework selection through walkthroughs, control testing, and handling deficiencies.
What Is Other-Than-Temporary Impairment (OTTI)?
Learn how other-than-temporary impairment works, from the original test and the rules that replaced it to how losses hit the financials and taxes.
Rebate in Accounting: Journal Entries, Accruals, and Tax Treatment
Learn how rebate accounting journal entries work for sellers and buyers, from initial estimates through period-end accruals, common pitfalls, and tax treatment.
Freight Capitalization Rules: UNICAP, Fixed Assets, and Safe Harbor
Learn how freight capitalization rules work for inventory and fixed assets, from inbound shipping through safe harbors and outbound delivery costs.
What Is a Cost Center? Types, Allocation, and Examples
Learn how a cost center works inside a business, from common types and expense allocation to budgeting, oversight, and shifts into a profit role.
Do You Get a Tax Break for Hiring Interns? WOTC, R&D, and Deductions
Learn how tax breaks for hiring interns work, from wage deductions and federal credits to fringe benefits and the classification rules behind them.
Tax Refund Offset Letter: Disputes, Hardship, and Bankruptcy
Learn how to handle a tax refund offset letter, from disputing the debt and protecting a spouse's share to seeking hardship relief or bankruptcy options.
Taxes on $120,000 Income: What You’ll Actually Owe
Learn how taxes on a $120,000 income break down, from federal brackets and payroll withholding through deductions, credits, and state-level variation.