How to File an S Corp Amended Return: Form 1120-S and K-1s
Learn how to file an S corp amended return, from correcting Form 1120-S and issuing new K-1s to shareholder amendments, deadlines, and penalty relief.
529 Plan for Your Nephew: Gift Tax, FAFSA, and Setup
Learn how a 529 plan for your nephew works, from setup and gift tax rules to financial aid effects and what to do if he doesn't use the funds.
Qualified vs. Non-Qualified Dividends and How They’re Taxed
Learn how qualified vs non-qualified dividends are taxed, from what determines classification to federal and state treatment and fixing reporting errors.
Do Sole Proprietors and Single-Member LLCs Get 1099s?
Learn whether sole proprietors and single-member LLCs get 1099s, from how entity classification drives the rules to payer deadlines and penalties.
Quality of Earnings: EBITDA Adjustments and Purchase Price Impact
Learn how a quality of earnings report shapes M&A deals, from EBITDA normalization and revenue analysis to working capital and purchase price impact.
What Are Ancillary Costs? Meaning, Capitalization, and Tax Basis
Learn how ancillary costs work in major financial transactions, from spotting them in purchase and loan situations to handling accounting and tax treatment.
Are Scholarships Tax Deductible for Companies? IRS Rules and Tests
Learn how scholarships can be tax deductible for companies, from charitable giving and business expenses to programs for employees and their families.
Form 1099 for Joint Accounts: Nominee Reporting and Tax Impact
Learn how Form 1099 for joint accounts works, from splitting income among co-owners to handling special situations and effects on Social Security taxes.
FVO Loans: Election, Fair Value Reporting, and Disclosures
Learn how fair value option loans work under US GAAP, from making the election and initial measurement to earnings impact, disclosures, and tax treatment.
My Accountant Didn’t File My Taxes: Penalties, Waivers, and Recourse
Learn what to do when my accountant didn't file my taxes, from filing the return and pursuing penalty relief to recovering losses from the preparer.