A tax exempt trust exclusively for the purpose of paying qualified higher education costs of the trusts designated beneficiary. Rate of return that a business could earn if it chose another investment with equivalent risk. The excess of REVENUES over all variable costs related to a particular sales volume. Replacing an old DEBT with a new one, often in order to lower the INTEREST costs of the issuer. Amount, net or CONTRA ACCOUNT balances, that an ASSET or LIABILITY shows on […]

In addition, under § 6662(b)(6), the transactions described in Situations 1-3 give rise to a 20 percent penalty applicable to an underpayment attributable to a transaction lacking economic substance under § 7701(o). The penalty is increased to 40 percent on any portion of the underpayment attributable to one or more nondisclosed noneconomic substance transactions. Under […]

All other organizations, including state colleges and universities described in the first sentence of section 511(a)(2)(B), aren’t subject to this tax, and therefore check the “No” box on line 16, and go to Part VI. A private college or university will be subject to the excise tax on net investment income under section 4968 only […]

For more information about or to do calculations involving CDs, please visit the CD Calculator. Rider Charges–An annuity rider is an amendment to an annuity contract that has the effect of either expanding or restricting the policy’s benefits or excluding certain conditions from coverage. A popular example is an income rider; in the case of […]

Some of the ways you may provide pay to your employees are listed below. For local transportation or overnight travel by car or truck, you can generally use one of the following methods to figure your expenses. All other bad debts are nonbusiness bad debts and are deductible as short-term capital losses on Form 8949 […]

Here are NerdWallet’s picks for the best small-business accounting software, including why we selected each product, monthly price details and features checklists for easy product comparisons. We’ve also included a couple of accept payments online 2020 solutions that nearly made our list and a few products you can skip. Cloud computing revolutionized the accounting software […]

Problems stem from the complexity of making simple fixes, such as miscategorizations or duplicate entries. Support is limited, so users are left reading help articles rather than getting a live person to help. Even for payroll, which has a huge tax liability, taxes are calculated automatically every cycle. QuickBooks makes it easier for your business […]