Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
how can massachusetts keep the sales tax charged on a cell phone I returned for a full refund?
I returned a cell phone and was told that Massachusetts does not refund the sales tax on a returned phone. How can they keep the sales tax when the sale was voided? Isn't it like all other merchandise...
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IRA rollover 1 year rule
This is the Rule: One-Year Waiting Rule Within one year, after you distribute assets from your IRA and rollover any part of that amount, you cannot make another rollover from the same IRA to another...
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Consequences of doing no record keeping?
I have a small retail business with 50% cash transactions of small values. Can I just what I think I owe the IRS, instead of doing complicated and time consuming detailed record keeping? My idea is...
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Do I have to report a personal r/e transaction sold at a loss
I purchased a 50% interest in a condo in 2007. I sold it in 2011 at a small loss. I just realized that I forgot to put it on my 2011 tax return. But was it required? There was no profit and it was not...
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Federal Carryover Worksheet, how can you have a payment and a refund at same time?
TurboTax did something and I am wondering if it is possible. After importing 2010 return into 2011, on the Federal Carryover Worksheet 2011 on top is a table of 2010 State and Local Income Tax...
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Looking for inexpensive federal payroll tax electronic filing software - any suggestions?
Hello, My clients are all individuals working a regular job, 1-person businesses with no employees or 1-person businesses that have occasionally paid independent contractors and issued them a 1099....
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Downloading and saving IRS publications as pdf?
I recently visited the IRS site and looked a Publication 590 on individual IRAs. It is listed as p590.pdf. When I try to save it onto my own computer, I get a message "The document ³p590.pdf² could...
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If I occasionally rent space on my lawn for parking
I live near a sports venue that has a pro football team with 6-8 games per year. There are also occasional concerts (e.g. Bruce Springsteen). I can fit lots of cars on my lawn and I can make quite a...
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Virtual Assistants
Web sites are touting these folks as "self-employed" and "not subject to payroll taxes". I'm certainly skeptical, and would always fall back on the IRS rules plus my own experience, but seek insight...
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Bond Accrued Interest
There were several posts on this before, but there's some ambiguity and possible conflicts in some of the previous answers so I'm asking for some clarification. ----------------------------- This is...
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Writing covered calls
If the covered calls expired worthless, is the premium considered income upon expiration? Or can it be a reduction of cost basis? TIA
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Deductible of attending a medical clinic.
My daughter is a dentist in MA and is considering attending a clinic in TN to give free dental care for a weekend. Assuming the clinic is run by an organization that is considered a charity, how much...
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National Tax Training School
I would like to get a better grip on matters regarding the U.S. personal income taxes. I don't have the time to go to a traditional brick-and-mortar school, so I am considering distance education. I...
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Excess contributions to a Roth IRA
I made excess contributions to my Roth IRA in 2010 and 2011. I've already filed the 5329 and paid the penalty on the excess contribution for 2010. In 2011, I filed my 1040 return timely before April...
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Cancellation of debt- am I overthinking this?
Husband and wife refinance their mortgage with wife's mother as lender. Mortgage is fully executed and recorded. It's a win/win situation - borrowers get better rate than bank offering, mother...
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