Best Rated threads in Taxes General Forumshow all threads
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Ed Slott and life insurance
I just finished watching a program presented by Ed Slott on PBS television about tax reduction and avoidance. Although he concentrated most of his talk on the pitfalls in IRAs and conversions to Roth...
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13 years ago
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Where do I enter "dividend charges?"
I have some dividend charges on some stocks I held short only for a few days. Are these deductible? Please advise! Thanks! D.A.
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14 years ago
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Inherited IRA wants to buy an immediate annuity
Person has an inherited IRA (trad, not Roth), and wants to buy an immediate annuity with the funds in it. Will this be a problem?
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15 years ago
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IRS FORM FOR FAMILY TRUST
I need to know what IRS Form to use to file a Form for the Trust and since all income comes to me personally, what IRS Form do I have to file. The Trust has its own I.D. number for the trust, and of...
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15 years ago
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Flipping houses for profit. How to categorize expenses?
I began a business of buying and selling houses for profit or use in rental income. I only have purchased one so far and need to know how to classify my expenses. For example the costs of appliances,...
1
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16 years ago
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Pros/Cons of an S-corp vs. LLC for a handyman/repairs business
For someone who wants to create an entity for their handyman/home-repairs business, what are some of the pros and cons of setting it up as an S-corp vs. an LLC? I know, of course, that one should talk...
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12 years ago
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1099-R - issued to one, but distributed to 3 children - how to handle
Hi, I'm hoping someone can help me. My dad passed away in 2004. Last year I was contacted by Aetna saying he had a annuity - he paid approx. 2500.00 for it back in the 60's and it was now worth 10K....
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7 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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Double Dipping Dependent Care FSA
Both my employer and my wife's employer offer a dependent care FSA. I have read that we may only contribute $5k combined per year to dependent care FSAs. But what happens if we double up? Is there a...
6
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12 years ago
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6 | |
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Check From Invesco Fair Fund
I have recently received a check from Invesco Fair Fund for a couple hundred U.S. dollars. This is in settlement to a lawsuit that the U.S. Securities and Exchange Commission brought against Invesco...
4
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14 years ago
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Thrift Savings - Alabama Income Tax
An easy one for Harlan: Form 40 instructions show "U.S. Government Retirement Fund Benefits" to be non-taxable. Do post-age 55 retirement distributions from the Federal Thrift Savings Plan qualify as...
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16 years ago
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Unsigned Check to IRS
A while back I asked what to do if I forgot to sign a check to the IRS. I was told that it probably would be honored anyway. That was correct. On my unsigned check was stamped: Kindly Refer to Drawer...
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15 years ago
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CP214 Notice - for terminated plan
I did not get a notice last year but got one a few years ago but I already terminated the Solo 401k plan. The CP214 notice says "We show you previously filed Form 5500-EZ" we want to remind you there...
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3 years ago
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Wash sales and dividend reinvestment
A recent thread asked about triggering the wash-sale rule by selling a mutual fund or ETF that was enrolled in dividend reinvestment. I'm in that situation too. The money impact isn't that great --15%...
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4 years ago
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Will IRS be notified of my intra bank transfers?
I have two checking accounts in one bank. One of them is in my name and my daughter's. The ONLY reason she is on the account is so she can access money for me if something happens to me and I'm not...
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7 years ago
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Turbo Tax E-file Rejected -- R0000-504-02
The e-filing of turbo tax was rejected by IRS because dependent's name does not match what IRS has on its records. Because IRS checks the SSA database for names, we will have to get with SSA to get...
9
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8 years ago
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FEIN and 1041 for Sec. 678 Trust?
Thank you for any help here. The situations detailed below haven't come up yet for us, but they're in the offing. I know how things were done thirty-odd years ago when I was in the business but they...
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8 years ago
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bonus "clawbacks"
How are bonus clawbacks handled? A person gets a $1,000,000 bonus on top of his/her $250,000 salary in year one. The next year the employee has to pay back $500,000 of the bonus. Year one income:...
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9 years ago
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5 | |
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1099-R question for a Rollover of a Solo 401k to Traditional IRA
I am filling out a 1099-R for a solo 401k that I own myself for a business that I am closing. I ran a S corp and have a balance of $25000 in my Solo 401k. I had both with vanguard and just performed a...
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9 years ago
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Donation of Rugs
Client has 4 oriental rugs to donate to an organization. They were last appraised in Dec 2012 and valued, jointly, at about $7,000. She planned to make this donation before the end of 2014, but to...
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9 years ago
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