Clergy Taxes, Explained: Housing Allowances, Dual Tax Status, and the Form 4361 Exemption
Ministers are employees for income tax but self-employed for Social Security: housing allowances escape income tax yet still owe SECA tax.
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Tax Compliance
Stay compliant with tax regulations and filing requirements
Correspondence vs. Office vs. Field Audit: What Changes When Your IRS Exam Moves From Mail to In-Person
About 4 in 5 IRS audits are letters you answer by mail; office and field exams meet in person — and Section 7521 lets you record the interview.
Form 5330, Explained: The Excise Taxes That Hit Retirement Plans After Prohibited Transactions and Nondeductible Contributions
Form 5330 reports excise taxes on retirement-plan failures: 15% on prohibited transactions, 10% on nondeductible contributions, until you correct them.
The Jock Tax, Explained: How Duty Days Decide What You Owe in Every State You Play
One road game in California can trigger a filing: duty days decide each state's slice of your pay, resident credits cap double tax, and travel logs win audits.
Tax Straddles, Explained: Why Section 1092 Defers Your Options Loss When the Offsetting Leg Still Shows an Unrealized Gain
Section 1092 defers a straddle loss up to the unrealized gain on the offsetting leg — close the loser alone and the deduction waits.
501(c)(6) Business Leagues, Explained: How Trade Associations and Chambers of Commerce Qualify for Federal Tax Exemption
A 501(c)(6) business league earns IRS exemption by lifting a whole industry — unlimited lobbying included — but lobbying-linked dues are not deductible.
Co-Hosting vs. Rental Arbitrage: How to Run a Short-Term Rental Business Without Owning Property
Rental arbitrage keeps the spread but owes rent monthly; co-hosting earns 10-25% with no lease. Compare economics, contracts, permits, and IRS-proof books.
What Are the Odds the IRS Audits Your Business? Audit Rates by Income and Entity
IRS audit rates run 0.1% for middle incomes but hit 4% above $10M — and Schedule C filers face triple the scrutiny of W-2 earners.
Shadow Payroll, Explained: How to Report and Pay Host-Country Tax Without Moving Anyone Off Home Payroll
A shadow payroll reports host-country work to foreign tax authorities while home pay continues — U.S. employers remit abroad, then credit it at home.
US State Tax Amnesty Programs, Explained: Clear Back Taxes Without Penalties Before the Window Closes
A state amnesty wipes penalties — sometimes interest — if you pay back taxes inside the window; Indiana and Illinois show how narrow the terms run.
Who Decides Employee vs. Contractor? How Form SS-8 Determinations Work and Why Workers File Form 8919
Form SS-8 lets either side ask the IRS to rule whether a worker is an employee; misclassified workers then pay only their 7.65% share via Form 8919.
Year-End Financial Close Checklist: Reconcile Every Balance Sheet Account and Prep for 1099 Season
Reconcile every balance sheet account, book year-end accruals, and file Forms 1099 on time — a six-phase IRS-ready close checklist for small businesses.