Latest threads in Taxes General Forumshow only best voted threads
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Tax treatment of credit card cash back bonuses
I use my credit card to pay business expenses. I submit recepts to my employer. They reimburse me for the expenses in full. At the end of the year I get cash back equal to a percentage of all...
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11 years ago
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Tax treatment of broadcast ratings panel payments.
I know a family that was chosen to work on a broadcast ratings panel. They get a small payment each week just for being on the panel, and another small payment if they wear their monitor enough. Total...
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11 years ago
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Paperless billing and records
For my business utilities, internet, phone etc, I subscribe to paperless billing. However, many of these accounts only store up to 2 years of history. If I am audited, how can I prove my expenses?...
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11 years ago
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15 | |
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C vs. S Corp
I'll probably show my ignorance in here somewhere. I (think I) understand what a S-corp is. You get to organize your business as a corporation, with the benefits of that structure, but for tax...
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11 years ago
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Necessary to file a zero-income federal return?
Hello, I have a client that owes considerable back federal taxes and is currently on an installment plan, paying what he owes out of his savings and his girlfriend is also helping him pay as well. He...
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11 years ago
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Form 1120 C Balance sheet entries
Where on the balance sheet do I account for NYS tax refunds deposited this year from a prior tax year and also tax payments made this year that will (most likely) be refunded by NYS next year? Thanks,...
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11 years ago
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Qualified Charitable Distributions (QCD)
I take the standard deduction and I have been following QCDs. They were ok in 2010 and 2011 but not ok in 2012. But now they may be ok for 2012 on a backfit basis and are ok for 2013. Here is the IRS...
2
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11 years ago
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Amt 2013 question
Greetings all, Does anybody know if line 6 on form 6251 will be reinstated in 2013, now that the limiting of deductions on 1040 schedule a is reinstated? In 2012 when there was no capping of schedule...
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11 years ago
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1099-Misc Box 3 or Box 7 Which to use for reporting payment made to instructor w
Do I use Box 3 or Box 7 on 1099-Misc to report payment made to an instructor (for more than $600)? The instructor was giving a class on massage techniques for massage professionals. The instructor...
2
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11 years ago
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2 | |
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Deducting Loan Interest on Shared Property
Together with my two sisters, I co-own the house where my parents are now living. There is a home-equity line on the house that all three of us had to co-sign on, which was used to pay for a new...
4
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11 years ago
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Reducing tax liability
Hi, I've started working on my taxes for 2012. My tax situation is as follows: I got married this year. My income is $135K. My wife's income is $45K. The majority of my wife's income (about 75%) goes...
6
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11 years ago
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Medical expenses incurred in 2011
Medical expenses invoiced and paid in 2012 but services rendered in 2011, in which tax year can the deduction be taken provided you qualify in all other medical perameters?
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11 years ago
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court decision on IRS RTRP authority challenge
I received this today from NAEA, National Association of Enrolled Agents: "A decision was announced this afternoon regarding the 2012 court case Loving v. IRS, which challenged IRS? authority to...
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11 years ago
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Deductability of cash out mortgage on first home used to purchase second home
Dumb question, apologies in advance. Is it deductible? Or does the mortgage actually have to be secured by the second home. I can get a lower rate by doing a no-points no-closing loan on my current...
5
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11 years ago
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IRA Distribution to Pay Student Loans
I will be 59 1/2 years old in Feb. 2013. I will have approximately 130,000 dollars in student loans that I will need to pay off for my daughter's college education. I am fully vested in a retirement...
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11 years ago
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