Latest threads in Taxes General Forumshow only best voted threads
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Small distribution from Roth 401K: Earned or Unearned Income - Kiddie Tax Consequences
Daughter is 21. She worked a summer job and contributed to a Roth 401K because it had company matching. The total balance at the end of the summer is $600 which is too small for the minimum...
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10 years ago
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VA Benefits for Caregiving: Tax implications
For several years, my elderly mother has required round-the-clock caregivers. I own the condo in which she lives rent-free, pay the condo monthly fee, and have paid several thousand dollars a month to...
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10 years ago
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interest paid to offshore trust
Is interest pertaining to Schedule E activity which is paid to an offshore trust deductible on Schedule E? Any limitations due to the fact it is paid to an offshore trust? What if the offshore trust...
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10 years ago
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What tax rates apply to sale of Calif residence?
I am confused about the fed and state tax rates that apply to the sale of a home in Calif. I know there are a lot of factors to consider. Assume the conditions meet the requirements for the fed (and...
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10 years ago
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Client paying back federal taxes on an installment agreement has recently had his bank account levied for past due New York taxes and now can't make federal installment agreement payment
Hello, Thank you in advance for any help. Here is what's going on - Client is a somewhat successful self-employed real estate agent who never made her estimated tax payments for several years to the...
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10 years ago
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Gifts made in contemplation of death
What happens if the dying person is the recipient? For example: Adam has a lung cancer. The doctors determine that Adam has less than 6 months to live. Betty, his wife, will inherit everything when/if...
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10 years ago
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Just want to be sure I understand Capital gains....
1) If I have 100,000 in long term gains, 10,000 in short term gains, and 50,000 in short term losses, then I pay taxes on 60,000 of long term gains. 2) If I have 10,000 in long term gains, 100,000 in...
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10 years ago
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Determining Fair Market Value of Donated Eyeglasses
I've found plenty of places that are willing to accept my used prescription eyeglasses as a charitable donation but none of them can provide me any monetary guidelines for determining the fair market...
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10 years ago
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Umbrella Liability Policy a business expense??
My wife is a licensed Realtor and licensed Real Estate Broker. We have, for the past several years, had a million dollar liabilty insurance policy since she dealt with the public, transported people...
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10 years ago
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2 | |
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Business vs. non-business items for NOL calculation
I'm putting together a web based NOL calculator, and I'm having some difficulty determining whether certain items are business or non-business. The items that I'm having problems with are jury duty ,...
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10 years ago
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backdoor Roth IRA
For the last couple of years or so, I have been following what is sometimes called the backdoor Roth IRA. I have been contributing to a non-deductible IRA and then converting a few days later to a...
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10 years ago
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Form 926 requirement?
A trust invested in a hedge fund that in 2012 made transfers to foreign corporations. None of the transfers were for more than $100,000, but the total to several corporations is more than $150,000....
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10 years ago
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Does filing my s corp tax return late and filing my personal tax return on-time increase my chance of audit?
My accountant filed my personal tax return this year on-time but he filed a automatic 6 month extension for my s corp. He was suppose to file it on April 11, 2013 but instead he forgot and filed it...
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10 years ago
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Educational expenses
I knew (or think I know) that the earnings from my child's 529 plan can be used tax free for required educational expenses. I think that means tuition but not room and board. Is that correct? One of...
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10 years ago
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Been paying for my familys flight to the USA and they pay to my UK account
For the last 12 years I have been paying for my family to visit me in the USA, I pay out of my usa account and they replay me in Sterling in my account in the UK Time has now come I want to bring this...
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10 years ago
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