Latest threads in Taxes General Forumshow only best voted threads
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What to do about mortgage payments received?
My wife and her brother were left a house by their mother. They sold it and took back a mortgage. BIL wants to receive all payments and twice a year pay her half. Fine with me, but I want to do what...
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8 years ago
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question about Earning Social Security credits & Tax Filing
I am now 45 years old, and I wanted to find out if during the last number of years I may have been missing out on getting more Social Security credits because of the way I am filing my taxes. I live...
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8 years ago
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Question on Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips
Question on Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips Form 8846. I have a small restaurant biz in FL. As a result I get credits via form 8846. I understand...
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8 years ago
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Tax Refund, Due to my error
I am an (CT) individual, not a tax pro. I have always prepared our reasonably simple returns (TurboTax). In March 2015, I received a ~$150 CT tax refund, noted to be for an overpayment in the prior...
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8 years ago
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Market Discount Accretion for bonds bought at market discount
Market discount accretion generally requires reporting a portion of the market discount annually as additional interest and increase the basis by the same amount. I the bond defaults or stops paying...
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8 years ago
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Mortgage/Loan Interest Deduction for limited partners
I remember (long time ago) that for an investment property purchased by a Limited Partnership, mortgage/loan interest is not deductible by the Limited Partners -- if someone guaranties the...
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8 years ago
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Question about IRA account, and K-1 not related to MLP
Hi, I am interested in purchasing "UGA" which is a gasoline futures ETF in my IRA. It does file a K-1 as opposed to a 1099. Any tax implications I need to worry about? My understanding is the main (or...
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8 years ago
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Save money by getting into a lower tax bracket?
All my life I've heard that one could save money by getting into a lower tax bracket? Here's an old example, from Wikip, from the 1930's: "Benny Thau was trusted by the stars. For example, Greta Garbo...
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8 years ago
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Qualified Plug-in Electric Drive Motor Vehicle Credit credit concern
In order to claim credit on Qualified Plug-in Electric Drive Motor Vehicle Credit you need to be the owner of the vehicle. What if the vehicle was purchased by a shareholder of a s corp, can the s...
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8 years ago
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Personal expenses on business work
I own a small C Corp with a couple relatives. In June, one of them had a payment due for something personal and wrote herself a corporation business check for $6K. She's going to pay it back over the...
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8 years ago
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I'll owe taxes in April for tax year 2015, should I send in payments now?
Based on past experience, I know I'll owe a good chunk in taxes when I do my 2015 return. Is there any reason I should be looking to make a payment now vs just waiting till April? My withholdings for...
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8 years ago
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Short Term Capital Losses
Hello, I seem to recall that short term capital losses on mutual funds sold can be use to offset shot term gains, and if there are any remaining short term losses, that they can be use to offset Long...
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8 years ago
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minimum salary for my wife to max out simple ira contribution.
Hello everyone I own a small business and was thinking about paying my wife a small salary so she can contribute simple ira to her retirement account. I am thinking a salary of $13550 that will allow...
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8 years ago
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Basis in IRA RMDs?
I have done some searching without much luck, but my question is what are the rules for which RMDs are deductible and which are not when there is a basis in the IRA, e.g., post tax contributions? Do I...
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8 years ago
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shareholder's stock basis report/statement for year 2014
My friend's accountant who is doing his personal taxes for my s corp as he is shareholder is asking me shareholder's stock basis report/statement for year 2014. Does anyone know what this is or how I...
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8 years ago
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