Is there an an advantage to have a child file income tax separately claiming gift money and tuition as income? Thanks.
read more »
If a taxpayer makes a donation in excess of $50.00 to a 501(c)(3) organization, it's my understanding that the organization is supposed to document that donation in the following calendar year, by...
My wife's 401k is managed by Transamerica. Quicken Premier 2007 for Windows says it's on the Web Connect list. When I Activate the account for One Step Update it takes me to the Transamerica website...
For about 30 years I have done business as a sole proprietorship with an EIN. Every year clients send me 1099s and I report the income on Schedule C. About 20 years ago I changed the business' name....
A home office is an area that must be used exclusively for business. But, on my tax return I claim only 75% business use of my computer and printer. Have I just shot down my home office deductions by...
I have a 30% interest in an escrow account that was set up for environmental remediation on a building. I used to own 30% of the building and the escrow account was part of the sale agreement. If the...
We relocated to another state. Our plan was to rent out our home in the former State. But because it needed repair/remodeling we could not rent it out immediately. The remodeling/repairs will take a...
Client just received a letter from IRS. Client never paid the $695 because her tax person suggested she not pay it and they told her not to worry. She never heard from the IRS again until yesterday....
I have question as related to taxes. I don't know if it's relavent to the questions but I live in Florida and due to COVID-19 started working from home. Is it possible for an employer paying somebody...
I?ve been lurking here for years & benefitted from the expertise of several of you. When I have a question I can normally search through the group threads & find the answer. (Here it comes...)...
Daughter-in-law has photography business in operation for several years. She has never qualified for home office as she didn't have any place that was used exclusively for the business. Now they have...
Of course we all know that the stimulus payments are not subject to Federal income tax because they are tax credits. But are any _states_ considering this $1200 as taxable income? (I'm personally...
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.