Are Property Taxes Prepaid or Paid in Arrears?
Learn how property taxes are paid in arrears, from what that means for your bill and escrow to how it affects closing, deductions, and missed payments.
Financial Restatement: Causes, Process, and Legal Exposure
Learn how a financial restatement unfolds, from the accounting errors and fraud that trigger it through reporting, market fallout, and legal exposure.
Are Real Estate Commissions Tax Deductible? Sellers, Investors, Agents
Learn how real estate commissions work as tax deductions, from home sales and investment property to landlord leases and commissions earned as an agent.
Is There Still a Tax Credit for Buying a New Car?
Learn how the federal tax credit for buying a new car has changed, from earlier purchases that can still claim it to related benefits open to new buyers.
Inherited IRA Basis Rules: Form 8606, Pro-Rata, and RMDs
Learn how inherited IRA basis rules work, from tracking after-tax contributions and pro-rata math to taxing withdrawals and beneficiary distributions.
Over Accrual: Causes, Correction Entry, and Prevention
Learn how over accruals arise in financial reporting, from common causes and detection through correction entries, tax effects, and prevention practices.
Amended Form 709: How to File, Costs, and Disclosure Lock-In
Learn how to amend Form 709, from preparing and filing the corrected return to locking in disclosure, handling limits on changes, and what filing may cost.
How Should Intangible Assets Be Disclosed on the Balance Sheet?
Learn how intangible assets are reported on the balance sheet, from initial recognition through ongoing measurement and the footnote disclosures that follow.
Can You Have a SEP IRA and a 401(k)? Limits and Deadlines
Learn how having a SEP IRA and a 401(k) works in the same year, from why both plans can coexist to contribution limits, deadlines, and penalty risks.
1099-R Box 2b Checked: Taxable Amount Not Determined
Learn how to handle a 1099-R with box 2b checked for taxable amount not determined, from finding your basis to calculating and reporting the right amount.