1099 vs S Corp: Tax Savings, Reasonable Pay, and Switching Costs
Learn how 1099 vs S corp taxation compares for freelancers, from where the savings actually kick in to the tradeoffs and costs of making the switch.
ASC 606: Revenue from Contracts with Customers, Five-Step Model
Learn how ASC 606 revenue recognition works for customer contracts, from the five-step model and pricing judgments through special topics and disclosures.
What Happens If You Don’t Pay Local Taxes: Liens, Levies, and Tax Sales
Learn what happens if you don't pay local taxes, from growing penalties and property liens to paycheck and bank collection and ways to resolve the debt.
Alcohol Import Tax: Customs Duty, Excise Rates, and Permits
Learn how alcohol import tax works in the United States, from federal duties and excise rules to state requirements and what travelers and importers pay.
How to Complete a Residence Homestead Exemption Application
Learn how to file a homestead exemption, from confirming eligibility and completing the application to submission deadlines and avoiding filing scams.
Reversing Accruals: Which to Reverse, Timing, and Pitfalls
Learn how reversing accruals fit into the close, from selecting which adjustments to reverse and timing the entries to controls and common pitfalls.
What Is Form 8919 Used For? Reason Codes and SS-8 Filing
Learn how Form 8919 lets misclassified workers pay only employee payroll taxes, from who qualifies and why to calculating tax and handling IRS pushback.
Taxes on Medical Weed Purchases: Sales, Excise, and Local Rates
Learn how taxes on medical marijuana purchases work, from state and local charges at the dispensary to federal rules that shape prices and limit deductions.
Transfer of ESPP Stock: Holding Periods, Cost Basis, and Form 3922
Learn how ESPP stock transfer tax rules work, from holding periods and cost basis fixes to gifting, donating, and inheriting shares under different plans.
IRA First-Time Home Buyer Withdrawal: Limits, Deadline, and Taxes
Learn how the IRA first-time home buyer withdrawal works, from who qualifies and which accounts count to the timing and reporting rules that follow.