Tax Resources for Accountants and Small Businesses (U.S.)
A Cafeteria Plan, also known as a Section 125 plan, is an employer-sponsored benefit arrangement that allows employees to choose between taxable wages and certain qualified, tax-free benefits. These plans are regulated under Internal...
This checklist is based exclusively on IRS authority (Section 125, IRS regulations, and IRS publications) and includes relevant internal resources from AccountingPortal.com. 1. Determine Eligibility and Plan Purpose Confirm that a cafeteria plan must...
Small private companies in the United States are not legally required to follow U.S. GAAP unless it is imposed by lenders, investors, or contractual agreements. However, many companies choose to prepare structured financial statements...
The gig economy – also called the sharing or on-demand economy – includes income earned from digital platforms and apps such as ridesharing, delivery services, freelance marketplaces, home rentals, or project-based work. According to...
Small private companies in the United States are not required to file Exchange Act reports such as Forms 10-K and 10-Q with the U.S. Securities and Exchange Commission (SEC). Those forms apply to public...
Small private companies in the United States are not required to file periodic reports with the U.S. Securities and Exchange Commission (SEC). However, owners, lenders and other stakeholders still expect reliable, decision-useful financial statements....
China remains one of the United States’ largest trading partners, and for many companies, Chinese suppliers are a critical part of global production and sourcing strategies. However, importing goods from China requires careful attention...
The year 2025 has introduced significant developments in United States tariff policy, particularly regarding steel, aluminum, and a wide range of derivative products subject to national security review. These changes, implemented under Section 232...
The Chapter 7 means test determines whether an individual debtor qualifies for relief under Chapter 7 of the Bankruptcy Code. The test is required by 11 U.S.C. §707(b)(2) and uses formulas based on household...
Individuals who file for bankruptcy under Chapter 7 must complete a set of Official Bankruptcy Forms created by the Judicial Conference of the United States. These forms provide detailed information about income, expenses, assets,...
Below is a guide to the official bankruptcy forms used in the U.S. bankruptcy system. These forms are issued by the United States Courts and are required when filing under different chapters of the...
The California Child Support Calculator on this page summarizes how the official California Guideline Child Support Calculator works and what information you need before using it. California law requires courts to follow a statewide...
Using California’s official child support calculator is fairly straightforward once you know what information it expects. This short manual walks you through the process so you can prepare everything ahead of time and understand...
What Is an Overtime Reset? An overtime reset refers to the point when the calculation of overtime hours starts over. Under the Fair Labor Standards Act (FLSA), overtime pay is based on a “workweek”...
What Is a First B Notice? When you file Form 1099s and the Internal Revenue Service (IRS) identifies a vendor’s or payee’s name and Taxpayer Identification Number (TIN) combination as mismatched, you may receive...
What Is Adjusted Gross Income (AGI)? Adjusted Gross Income (AGI) is an IRS-defined measure of income calculated as gross income from all taxable sources minus specific adjustments allowed under the Internal Revenue Code. AGI...
What Is Modified Adjusted Gross Income (MAGI)? Modified Adjusted Gross Income (MAGI) is an IRS-defined calculation used to determine eligibility for several federal tax benefits. Although MAGI is based on Adjusted Gross Income (AGI),...
What is an IRS “B” Notice? A “B” Notice is a backup-withholding alert you must send when you receive a CP2100 or CP2100A notice from the IRS. It means the name and taxpayer identification number...
This article summarizes the official IRS and U.S. Treasury rules for recovering the cost of business property under Section 179 and Section 168(k) (bonus depreciation) for tax years beginning in 2025. All information below...
Like Share Print Form 1040, U.S. Individual Income Tax Return Annual income tax return filed by citizens or residents of the United States. Instructions for Form 1040 Forms and Schedules for Form 1040 2013...