How Does the IRS Step-Up in Basis Work at the Death of a Spouse?
Learn how the step-up in basis at the death of a spouse works, from state property rules and excluded assets to trusts, valuation, and reporting.
Tax Fraud Meaning: Intent, Civil Penalties, and Prison
Learn how tax fraud penalties work, from the line between mistakes and willful conduct to civil fines, federal prison exposure, and state consequences.
Convertible Debt Accounting: Bifurcation, EPS, and IFRS Differences
Learn how convertible debt accounting works under US GAAP, from initial recognition and separation questions through EPS effects, conversions, and IFRS contrasts.
Demand Note Interest Rate: AFR, Prime Rate, and SOFR Benchmarks
Learn how a demand note interest rate is set, from market benchmarks and IRS minimum rates to small-loan exceptions and reporting the interest properly.
Business Vehicle Trade-In Tax Treatment: Gain, Basis, Depreciation
Learn how business vehicle trade-in tax treatment works, from calculating gain on the old vehicle to basis and first-year deductions on the new one.
FAS 109 and ASC 740: Deferred Taxes and Uncertain Tax Positions
Learn how ASC 740 accounting for income taxes works, from deferred tax assets and liabilities through uncertain positions, rate changes, and disclosures.
What Is a BDC Fund? Holdings, Taxes, Fees, and Risks
Learn how a BDC fund works, from what these lenders hold and how their income is taxed to the fees, purchase options, and risks investors take on.
W-2 Box 12 Codes: Pre-Tax Deferrals, HSAs, and Stock Options
Learn how W-2 Box 12 codes work, from pre-tax deferrals and health savings contributions to stock option income and extra taxes flowing through your return.
How to Account for Lease Incentives Under ASC 842
Learn how to account for lease incentives under ASC 842, from initial recognition and income statement effects to modifications, impairment, and tax considerations.
Negative Taxable Income: NOL Filters, Carryforwards, and Claims
Learn how negative taxable income becomes a net operating loss, from the loss filters that shrink it to how the carryforward is claimed and preserved.