Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
Why is Federal tax witholding slightly less in 2012?
I ran our first biweekly payroll of 2012 yesterday and when I gave a paycheck to my assistant she noted that it was for a couple of dollars more that the last check she received in 2011, even though...
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Quick Quesrtion
A client, C corp with about 60 shareholders, has closed the business and disbursed the cash assets (physical assets long ago handled). The result is the dissolution of the corporation (attorney...
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Trustee too eager to sell?
A client trustee is the grandson of a client who passed away 12/31/11. He is not a beneficiary. There are 3 benficiaries. It is a grantor (revocable) trust. He (the trustee) is getting things done,...
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How To Report Stock Exchange In Merger?
Over the years, my wife accumulated 418.619 shares of Nicor, Inc. In December 2011, Nicor was merged into AGL Resources (AGL). Each Nicor share was exchanged for $21.20 in cash plus 0.8382 share o...
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Which year ?
Had a dispersal from my 401K dated in Dec, but due to being lost in the USPS it got re-issued in Jan. Which Tax year do I claim it on? Chip
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Withholding on Canadian dividends?
I own stock in three Canadian banks, BMO, CM, and RY. (If you looked at their dividend yield, you'd own them, too.) The BMO and CM stocks are in my IRA. They pay the dividends like any other dividend,...
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SEP IRA Deduction disallowed
Hi., The IRS has disallowed a SEP IRA Contribution. Can I file a 1040X and withdraw the contributed amount without a penalty? Thanks a lot.
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Ibonds Minimum Withdrawal Requirement
Is there a Minimum Withdrawal requirement for Ibonds at age 70.5 ? (These are not a part of an Ira) Thanks rc
 
Deductions
I am a dentist, classified as an employee of a company. I am paid a base salary, as well as commissions. - If I buy some of my own instruments to use in the office, can these be deducted? - Can I...
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Like kind exchange
I hold precious metal bullion in a brokerage account. If I sell the bullion and buy the ETF that holds the corresponding bullion (e.g. iShares Silver Trust holds silver bullion & SPDR Gold Shares...
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confused about sched D
I am confused about doing my Sched D (I use TT). I make about 150-200 stock/options trades each year. I log them on a spreadsheet. In many cases, I sell covered calls and the shares get called away....
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rental deductibility question
I have a rental property. My state offers a tax credit of up to a certain amount for repairs that lead to a lead compliance letter being issued. How does this affect (if at all) the deductibility of...
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Constructive receipt, constructive payment question
The recent "Constructive Receipt" post reminded me that I have a question regarding "constructive payment". After procrastinating longer than I should have, I found myself sitting in front of my...
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Form 1099-MISC Minimum for Legal Services?
I thought that I had read that a Form 1099-MISC would now be required for all legal services, even if the amount was lower than $600. However, the instructions for Form 1099-MISC clearly state that a...
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Error on SSA W-2 Site??
I went to for my annual ritual of completing the one Form W-2 I need for my small C Corp. However, this year I get a very strange error. My wages this year were somewhat above the SSA maximum of...
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