Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
Taxation of ministers
As anyone involved in church budgets knows, there are some unique and confusing rules about the way that clergy are taxed, described in IRS Publication 517. One rule is that even though clergy are...
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Minimum required distribution on Keogh?
Engineer retires at age 67 with retirement savings in various IRAs; begins taking minimum required distributions (MRDs) from all these IRAs at age 70 1/2 per the rules. He also begins doing some...
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CCH Tax News Headlines - April 15, 2011
CCH Tax News Headlines - April 15, 2011 Federal Headlines: 4/15/2011 - _IRS Extends Pilot Program Allowing Truncation of Taxpayer ID Numbers on Payee Statements (Notice 2011-38)_ ( 4/15/2011 - _Final...
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Tax of bonus?
My new employer paid me a "moving bonus" when I started my new job (I had to relocate from another state). I assume this is essentially a signing bonus, and tax should be paid as such? Thanks
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Wife lives in different state
I live/work in MA, wife lives/works in NC. Filing Joint Federal, Joint NC (with me as non reident). Not sure how to handle MA return as my wife received unemployment benefits of $3400 while living in...
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insurance bill - deferred payment
Received an insurance bill for a rental building the end of last year 2010 - However we paid the bill in this year 2011. So - do we NOT claim the Insurance expense on Sched E for 2010 taxes ? since we...
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Being asked for Schedule K1 on partnership that filed a final return for 2009 tax year
I am a NY state resident who is self employed. I run a computer repair business. I file a 1040 and a Schedule SE. I file as a sole proprietor. I have a few clients in NJ as well so I file a non-...
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Time and ways to pay
What is the time frame to pay the IRS? Will they give me 4 to 5 months to pay them?
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Partnership Meals and Entertainment
Hello to all, and thank you in advance for any opinions you may have. I have a partnership (LLC taxed as a partnership) that is owned 50%/50% by two people. Hense they are self employed and not...
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How long?
How long do I have to itemize something that I forgot about years before? Example: I had to buy a new water heater and AC unit. This happened about 5 years ago. I have a home office. If I never...
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calculating state tax deduction
Folks, I needed some help calculating my state tax I need to report on schedule A for 2011. Here is my situation: 1. 1/10/2010 ---- 4th Qtr estimated tax for 2009 = $A 2. 4/12/2010 --- State tax due...
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dealing with interest income for LLC
Folks, My LLC has rental properties. I keep my rental income in money market funds and this generates income (reported on 1099 INT). I also have some passive losses and I use my rental income to write...
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US citizen has Irish military pension - how to report?
One TaxAide "client" (a married couple, both US citizens) that I've had for years with a nice, simple, SS + some interest return showed up today for their appointment and told me "oh by the way,...
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Sale of house - recapture long-time buyer credit?
Taxpayer bought personal residence for $250,000 plus costs, and took long-time homeowner credit. Property was 2 lots, one with house, one without. Basis after credit reduction is $246,162. 9 months...
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Canadian Tax Expert Out There?
Another one of my US-Canada questions... (For those who aren't bored to death by it yet, I live in the USA, had a long-time girlfriend in Canada whom I just married this year. Most of my past...
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