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The most recent discussions

Out of State Employee


April 24, 2018, 4:01 am

Small corporation set up in State 1 wants to hire an employee in State 2. Does the corporation have to do state payroll tax withholding for both states, or just State 2? I'd think that withhold... Read more »

Calculating 2018 Taxes/Return


April 21, 2018, 9:50 pm

I want to estimate my 2018 tax situation. Are there any forms available yet to do this? What I'd really like to do is fill out a 2018 tax return. I don't see an easy way to modify my 2017 retu... Read more »

Failure to Withhold


April 20, 2018, 2:31 pm

I have a question from a guy who is definitely an employee, turned in his W-4, but over the course of law year his employer withheld nothing from his paycheck. He apparently didn't notice, spent... Read more »

Change From Standard to Itemized Deduction


April 19, 2018, 6:03 pm

If a 1040 is filed using a standard deduction, resulting in no tax payment. Later a mistake is discovered that would make itemized deductions more favorable. Can an amended return making this change ... Read more »

Should my car be on my business name?


April 19, 2018, 1:28 am

I am a small business person. To be able to get depreciation on my business tax return for my car, does the IRS require that the car have been bought in the name of the business? And should the au... Read more »

Property owned by IRA


April 17, 2018, 3:21 pm

Client has real property owned by her IRA. She personally paid the property tax. First, can she personally deduct the tax payment? My guess is no because she's not technically the owner. Next... Read more »

How to handle built up vacation home carryover expenses when no more person...


April 17, 2018, 2:03 am

Taxpayer has had a vacation home for many years, living it during the summer and renting it the rest of the time, so the vacation expense limitation applies and over the years a hefty carryover has b... Read more »

Foreign Trust & U.S. compliance requirement


April 16, 2018, 5:28 pm

A U.S. citizen set up an irrevocable foreign trust with non-resident alien beneficiaries. Is there any *on-going* U.S. compliance requirements for 1. the Foreign Trust? OR 2. the U.S. Settlor... Read more »

Old, very old, NY returns


April 12, 2018, 6:27 pm

My client's uncle died in 2013; research suggests that 2011-2013 returns were never filed. Preliminary estimates show that no Federal return would have been due, but a NY (state and city) returns ... Read more »

NY tax registration


April 10, 2018, 11:57 pm

I have a client whose late grandfather may need to file 2011-2013 NYS (and NYC) tax returns. If I do this, do I need to register with NYS? -- Arthur Rubin, AFSP, CRTP, Brea, CA -- Read more »

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The best rated discussions

hairdresser employee or subcontractor?

rating: 5

Should a hair dresser be paid as a subcontractor or an employee? They will be paid hourly and receive comissions on cuts. They provide all their own supplies, and work their own hours, and obviousl... Read more »

What do I do with a ***Substitute Form*** 480.6C?!

rating: 5

I just received a form 480.6C from the Gobierno de Puerto Rico telling me I received $244.16 in dividends, with $24.40 withheld. Apparently an investment account hold some stock in Oriental Finl Gro... Read more »

NYC 1127

rating: 5

I am preparing my first NYC 1127 for a nonresident employee of NY City. Taxpayer retired last summer so he was only a nonresident employee of NYC for part of the year. In looking at the instructio... Read more »

deduct conference expenses for graduate student

rating: 5

I am a PhD student and have accepted a position to be a faculty member this coming fall. I am filing itemized deductions. This past year, I attended several academic conferences related to my field... Read more »

Inherited installment obligation.

rating: 5

In pub 537 it says that if you inherit an installment obligation it is taxed the same as it was for the seller. However; when you inherit property, the basis of the inherited property is the FMV on ... Read more »

Liability of Incorporator for unpaid Franchise taxes

rating: 5

How does an incorporator of a never activiated C corp avoid personal liability for the years that entity did not file tax returns or make payments of the minimum California frachise tax? Gary -- Read more »

Joint tenancy, multiple owners, capital gains calculation

rating: 5

Can someone please explain what each surviving co-owner's capital gains tax calculation would be under the following scenario?: Single family home purchased for $400,000 and sold 10 years later in 20... Read more »

Form 6251- Line 4 of Home Mortgage Interest Adjustment Worksheet, accounti...

rating: 5

My understanding is that Mortgage Interest must have its uses separated in order to do this calculation properly, because if the interest is for anything else other than home related (building, remod... Read more »

Estimated Tax Issue (Hypothetical)

rating: 5

Taxpayer has $100,000 short-term capital loss carryforward, and $100,000 long-term capital loss carryforward. In the first quarter, he gets $200,000 in short-term capital gains. How much estimated ... Read more »

deathbed marriage

rating: 5

I read that Farrah Fawcett, knowing she was on her deathbed, agreed to marry Ryan O'Neil. I think they were married in the past. What are the estate and other tax implications of such a deathbed ma... Read more »

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