Tax Resources for Accountants and Small Businesses (U.S.)
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...
The Fair Labor Standards Act (FLSA) is a cornerstone of U.S. labor law that establishes nationwide rules on minimum wage, overtime pay, recordkeeping, and child labor. It was enacted in 1938 and is administered...
The Applicable Federal Rate (AFR) is updated every month by the Internal Revenue Service (IRS). For 2025, AFR levels reflect the continuing adjustment of federal interest rates in response to broader economic trends and...
The Fair Labor Standards Act (FLSA) continues to evolve. In 2024–2025, the U.S. Department of Labor (DOL) issued new regulations on overtime pay and salary thresholds for exempt employees, followed by significant court rulings...
This article explains the official Health Savings Account (HSA) and Flexible Spending Account (FSA) contribution limits for tax year 2025. All figures are based on official IRS publications and related government sources. Health Savings...
This article explains Form 1099-K using only official guidance from the Internal Revenue Service (IRS). It is designed for U.S. small businesses, online sellers, accountants, and platforms that process payments for goods and services....
Authority: U.S. Department of the Treasury – Financial Crimes Enforcement Network (FinCEN) Law: Corporate Transparency Act (CTA) Effective: January 1, 2024 (with amendments published March 21, 2025) What is BOI reporting Beneficial Ownership Information...
Authority: Internal Revenue Service (IRS), U.S. Department of the Treasury Official source: https://www.irs.gov/filing/e-file-information-returns Overview Beginning January 1, 2024, the Internal Revenue Service (IRS) requires that any person or business filing 10 or more information...
A complete overview of Wyoming sales and use tax rules for construction contractors, based on official guidance from the Wyoming Department of Revenue (DOR) and Wyoming Statutes Title 39. Introduction The construction industry in...
The cash conversion cycle (CCC) measures how long it takes for a business to turn the money invested in inventory and receivables into cash from sales. It is a practical indicator of working capital...