Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
software
Has anyone had any experience with OLTpro software?
 
Rental property loan interest & fees
My wife and I just purchased our first rental property. We paid cash for the property, because an unexpectedly low appraisal prevented us from arranging our desired financing. (We plan on...
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Qualifying Widow(er) VS Surviving Spouse re Standard Deduction
While looking for the tax year 2013 adjusted items, I came across "Internal Revenue Bulletin: 2013-5 " at In the various Tables, it appears that the wording for "Qualifying Widow(er)" has been changed...
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C-Corp returns with zero taxable income not filed for ten years, will there be interest on the late filing penalties?
Hi there, Client of mine is the sole shareholder of a C-Corp and did not file returns for the past ten years. In seven of those years, the C-Corp has posted a loss. In the other three years, loss...
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Use of 1040-ES to Supplement 1099-R Withholding?
My 1099-R withholds taxes in the mid 4 figure range. I can go online and adjust the amount withheld on a monthly basis. For 2013 I anticipate a doubling of the amount of tax due because of some short...
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Explain This Situation
I do not understand this situation. I understand that taxes were either not or incorrectly filed, but who actually filed the returns? I have been left with the impression that Mr. Snipes filed his own...
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529 account over-contribution & 10% extra tax on earnings
Hello. I'm in the very fortunate situation of having a child who received a full-ride scholarship, leaving excess funds in his 529 account that I would like to move to my retirement account. I am...
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maximum gift you can give your client if you are a tax preparer
The maximum gift you give is $25 per client (you can give more, just can't deduct it). If you are a tax preparer and do a return for a couple, can you give $50, and if they have kids whose names...
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recapture of education credits when sell books
Suppose you used books to increase the value of your education credit, such as the AOC. The following year you sell your books back, or you sell them on eBay. Do you then have to pay back some of your...
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Taxes on a lawsuit settlement...
I am suing someone for $200,000 in damages. I presume they are not taxable, as they are genuine damages. They have offered to settle for $100,000. Will any of that be imputed interest, as the damage...
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1040s, 1099s, Schedule Cs, lost of confusion & 4 years behind... HELP?
Hello. Due to an outrageously incompetent (and mysteriously vanished) accountant I had a few years back, I am behind on my taxes 4 years. Within this time, I have worked several jobs in which I was a...
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pay for reception, a gift?
Hello folks, My daughter will be getting married in November and my wife and I will be hosting and paying for the wedding reception (I'm stunned at how much these things cost). Is that considered a...
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how to determine and report health insurance meets new requirements?
Well, the subject line says it all. How does a taxpayer determine if his insurance plan meets the minimum level the government now insists on, regardless of your own personal preferences? How will...
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Tax Expert In The Dallas (Texas) Area?
I own a piece of real estate in Europe with my brothers. It is a joint ownership. I am planning on selling my share to them and for this I think it would be better to discuss the details with a U.S....
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Winnings From Gambling
I know some buddies who occasionally drive to Oklahoma and gamble at a casino. They have never received any tax-related document from the casino concerning their winnings. (Their winnings have been...
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