Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
TurboTax Deluxe - Where is it Installed on the Computer?
A quick question - where is the TurboTax program installed on the computer? I see the data files on my computer, but cannot find the TurboTax Program. Thanks for any insights. Charlie...
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Amending Form 8288-A
The situation is that my client submitted a Form 8288-A with an old SSN and received a stamped copy from IRS a while ago. Then, he filed his personal tax return with a new SSN after getting VISA. Is...
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Brokerage Run HSA Accounts?
Is there any brokerage that adminsters HSA accounts, so that open balances in the HSA can be invested in stocks instead of collecting 1/10th of 1% interest in cash balance accounts?
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LLC Questions
Hi, all. I'm working with the owner of a small LLC, who wants to do a lot of small, fairly short term deals. I'm trying to figure out the best, most effecient for this to work. One approach I'm...
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Fee For Offshore Bank Account
I have an offshore bank account duly disclosed to the IRS and FinCEN. The bank account earns some interest (on which I pay tax to the IRS) but the financial institution charges a monthly "Maintenance...
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Documenting large charitable deductions
Given the recent thread re large medical expenses, where the consensus seems to be: "don't submit supporting documentation with your return, but have it at the ready should the IRS request it", Do you...
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Documenting Catastrophic Medical Expenses
As a companion to my question on HSA, consider the case of a person who is very ill for several years, unemployed with income under $30K/year and medical expenses exceeding $30K/year. Medical expenses...
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HSA for Unemployed?
For an unemployed person, is there any equivalent to a Health Savings Account that would allow the person to make contributions into a savings account that is deducted "above the line" for tax...
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Cash gift to caretaker
How is a $500 cash gift handled for a caregiver? If caregiver was an employee (w-2 given out) I understand it is reported as taxable income. If caregiver is an independent contractor (1099)? or Paid...
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Section 179 recapture
A taxpayer has a (very) small consulting software programming business. She uses a laptop with a purchase price of $1,500 and uses it solely for the business. If she does section 179 first year...
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Gift tax question
Good Day I understand that this forum is JUST advice, but it is advice I am looking for :-) I bought a house from my wife's grandfather (arms-length-transaction confirmed) 1. I bought the house for...
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Reporting House Sale When it was Partial Rental
For the last seven years, I rented a portion of my house out (40%) and reported rental income and expenses including depreciation on Schedule E. I also lived in the house. This year (2016) I sold the...
 
When does a gift occur?
Does a gift take place in the year the check is written, when the check is given to the recipient, or when the recipient deposits the check? The first two look like they will be in 2016, but the last...
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Quick reference guide for Texas taxes
Does anyone know good Quick reference guides for tax preparers for Texas taxes, similar to TaxBook or QuickFinder?
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LLC filing as S-Corp wants to convert back to a single-member LLC - possible without starting fresh?
Hello, I haven't had much luck in getting an answer from the IRS on this one and I have researched around without anything conclusive, maybe someone here knows. Client of mine was a single-member LLC...
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