In contrast to the traditional taxable income-based method of calculating tax expense, under financial accounting standards, corporate income tax expense is instead derived from liability for current ...

Knowing your effective tax rate can help you understand how well you’ve been managing your tax situation throughout the year.

The IRS allows you to calculate your tax bill using one of two tax accounting methods. The more common of the two methods for individual taxpayers is the cash method. However, most businesses prepare ...

Capital gains are taxed in the taxable year they are "realized." Your capital gain (or loss) is generally realized for tax purposes when you sell a capital asset. As a result, capital assets can ...

Effective tax accounting is a complex and high-stakes function. The accuracy of tax provisions is critical to financial reporting, yet vulnerabilities exist due to the reliance on spreadsheets and the ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax ...

Thomson Reuters announced the release of a new tax tool meant specifically for calculating tax liabilities connected with Superfund sites. Superfund sites are essentially areas deemed by the ...