| Valuation of Inventories |
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| An inventory is an itemized list of goods held for sale or for consumption in a manufacturing or merchandising business. In order to properly calculate gross profit from operations, leading to a determination of taxable income for that business, the taxpayer must adopt a method of valuing its inventory. More... |
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| What to Do If You Have Not Received a Form 1099 |
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| You received a certain type of income during the year, and you know that you should be getting some type of form in the mail from the payer in order to prepare your federal income tax return. You wait and you wait, but your mailbox is filled with nothing but after Christmas sale flyers. You really wanted to file early this year and get your refund, but you don't know how long you should have to wait. More... |
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| Section 527 Political Groups |
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| A political organization subject to Section 527 of the Internal Revenue Code (usually called a 527 organization) is a party, committee, association, fund, or any other type of organization run primarily to directly or indirectly accept contributions and/or make expenditures for an exempt function. The exempt function of a political organization is influencing or attempting to influence the nomination, election, or any other type of selection of an individual to any public office or to an office in a political organization. More... |
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| Tax Return for a Deceased Person |
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| When a taxpayer dies, a new taxpayer is created in his or place - the estate. The executor, administrator, or other legal representative is responsible for filing all required tax returns, which generally includes a final income tax return that covers earnings from the beginning of the tax year until the date of death. In addition, the responsible party must file an estate income tax return that covers earnings in the period after the date of death. More... |
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| Enrolled Actuaries |
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| An enrolled actuary is an individual who has satisfied established standards and qualifications and who has been approved to perform the actuarial services required under the Employee Retirement Income Security Act of 1974 (ERISA). These services include the application of the principles of probability and compound interest to determine the present value of payments to be made after certain specified conditions are fulfilled or certain specified events have occurred. More... |
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