by TheBusinessProfessor | Feb 23, 2025 | Business Taxation
What is an Enrolled Agent?An enrolled agent (EA) is a tax expert who is a legal representative of taxpayers for subject matters related to the Internal Revenue Service. EA is appointed by the U.S. government authorities. To be an EA, it is mandatory for the candidate...
by TheBusinessProfessor | Feb 23, 2025 | Business Taxation
What is the GUST Restatement?GUST Restatement was a requirement mandated by the Internal Revenue Service (IRS) for companies offering annuities and retirement savings plans such as 401(k)s to make certain adjustments in the manner of administering such accounts....
by TheBusinessProfessor | Feb 23, 2025 | Business Taxation
What is a Capital Gains Tax?Capital gains tax is a type of tax collected on capital gains that are profits earned from the asset sales such as stocks, metals, bonds, and property. The profit arises from ascertaining the difference between the selling price and the...
by TheBusinessProfessor | Feb 23, 2025 | Business Taxation
What is a Homestead Exemption?In the United States, a homestead exemption is a legal protection that safeguards the value of a home from taxes and creditors given the death of the homeowner spouse or following the declaration of bankruptcy. A homestead exemption is a...
by TheBusinessProfessor | Feb 23, 2025 | Business Taxation
Update Table of Contents What is a Capital Improvement?How Does Capital Improvement Work? Why is Capital Improvement Beneficial?Example of a Capital ImprovementAnother Example of a Capital ImprovementAcademic Research on Capital Improvement What is a Capital...
by TheBusinessProfessor | Feb 23, 2025 | Business Taxation
What are Capital Goods?Capital goods are the assets that can be seen and touched, and help a firm in manufacturing goods and services that are further used by another firm as inputs or resources for manufacturing consumer goods. In other words, they are tangible...
