Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
Year End business income & 1099s Tax year ?
According to IRS instructions, Schedule C businesses who use a CASH method should include revenue on their tax returns based on when the money is received. Near the end of the year payments may be...
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Tax Treatment of WA Worker's comp
the State of Washington allows a portion of the Worker's Comp premium to be passed on to employees. My undersanding from our accountant is that in low risk industries, it is commonplace for the...
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Tax liability on short term capital gain
Hi experts Please check the income statement for the year 2012-2013 & tell me what is the tax liability. Salary& allowance 180000 Commission 100000 Short term Capital Gain 30000 Interest on FD 25000...
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For mr. Kamlet Re My Gift Tax Date Question
Hello, Thanks for help. Will be giving the check to them personally. So, what applies ?: - the date I give it to them ? - the date on the check ? - when they cash it ? or,...? Thanks again, Regards,...
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"Gift" Effective Date Of ?
Hello, Wish to help a family member out with a "gift". Is the gift considered to be made by the IRS per the date on the check, or when actually cashed by the individual ? Or,...? Happy Holidays,...
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Early Roth Withdrawal - basic questions
A few questions to head me in the right direction... Pre-age 59.5: If I do an early withdrawal from a Roth (for educational purposes, should be penalty exempt), where does the Roth withdrawal get...
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bullion capital gain tax rate?
Is the sale of bullion taxed at a capital gain rate or the collectible tax rate?
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Circ 230 proposed changes and this newsgroup MTM
From what I've read, the latest changes have some impact on any advice that Circular 230 tax preparers might provide. Plus, they really want us to stop using the long-standing Circ. 230 disclaimer,...
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Capital loss status of inherited raw land?
Some years ago a relative inherited some raw land. It is completely vacant and was so while owned by the decedent as well. The land wan't being rented out or anything by the decedent and was not...
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use HSA to pay kids' health insurance premiums?
I have a health savings account (HSA) under a high-deductible health insurance plan from my employer that now covers myself, my wife and children. If I choose to drop my kids from the employer plan to...
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Roth IRA Questions
My childbride works for a Not-For-Profit and has a 401-K thru them. She has a modest six figure inheritance as a base for tax free contributions. 1. Can she have a Roth IRA? 2. If yes, what is the...
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1099 to Property Manager?
Hi, i have a rental house and the property manager i use withholds their fees from the rent, which totals more than $600 per year. They send me a 1099 each year for the rent they pay me. My question...
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Divorced tax payers filing IRS OIC
Can anyone provide guidance as this is a first for me. Two recently divorced tax payers whom filed MFJ and owe back taxes. They qualify for an OIC. They are both self-employed with their own business...
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Avoiding Self employment tax penalty
I had no SE income in 2011. In 2012, I have some only in the 4th quarter. It will result in over $1000 in SE tax. Do I have to pay that by 1/15/2013 or do I fall under the safe harbor rule and can...
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3 questions re. subtleties in determining one's LT capital gains rate
I have 3 questions regarding the tax tables for capital gains. I just wanted to get a "bird's eye" view for tax planning purposes, so I wish to simplify the discussion as much as possible without...
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