Best Rated threads in Taxes General Forumshow all threads

Subject Author Posted Replies
 
about Tax Treaty benefit ??
I am a J1 Scholar from Pakistan and getting my earnings, funded by Government of Pakistan as research scholarship. When I came here in USA, (in 2006), I filed the tax treaty exempt (form 8233) since...
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529 Plan Transfer of Ownership
"From Commonwealth of Virginia 529 College Savings Plan Program Description Can I transfer ownership of the account? Yes. Ownership of the account can be transferred by changing the account owner....
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Forever stamps and cap gains?
[this is both silly and serious] Now that the USPS is selling "forever stamps" (you buy them at the then-current first class rate and can use them to mail a piece of first class mail no matter what...
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Dependent's tax return
I claimed my son as a dependent on this year's tax return. he worked over the summer last year and earned about $2500.00. He paid taxes and I think he can file for a return on his taxes. Can he file...
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Applying refund to next year
I am wondering what would happen if I apply this year's tax refund to next year. I realize that I will not get any refund this year if I do this. If I get a refund next year when I do taxes this...
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Moving Expenses for Telecommuters
We recently moved and I would love to deduct my moving expenses, but I'm not sure I qualify. I telecommute (live in Texas, work for an office in California) and my wife works from home (salesperson)....
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Form 1099-R For Sec 1035 Annuity Exchange In a Trust Account
Years ago my parents set up a trust for my kids (two account in the same single trust for both of two kids) and purchased a tax-deferred annuity. I am the trustee. We can debate the wisdom of this and...
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rollover treatment of 401k after-tax contribs
I'm about to get traded to a new employer and will then be able to rollover my existing 401(k) from the current employer. That plan has a significant amount of after-tax contributions. I've done a lot...
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Tax Preparer Liability
I am looking into starting at a retail tax preparation outfit. I'm currently taking their class and would like to know who assumes the liability for the tax return, the employer or employee. I would...
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Overpay state tax on purpose to get a higher federal refund
My co-worker (no, not me!) is convinced this will work. He is single, makes about $70-$80K, and lives in California and will itemize deductions in 2006 but not 2007. Oh, and he's annoying and keeps...
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Instructions for 1120 Schedule E - Compensation of Officers??
I have looked all over and can't find any instructions for this. Do they exist? Specifically for (c) percent of time devoted to business. Lets say two people spend 20 hours a week working. One does...
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1120 Schedule L Question
Happens quite often. I've one where 1,000 shares were issued for $1 back in the 70's. Two owners Dad with 999 and son with 1 share. Both worked business. Dad died leaving stock to Mom. Board (son and...
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deductibility of group disability insurance premiums
Can an LLC filing Form 1065 (law firm) deduct group disability premiums for: 1. employees 2. members (partners)
 
Executor, late gift tax return
Death is generally considered reasonable cause for any late filing penalty.
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NOL from Tuition Deduction?
That doesn't lead to an NOL. The 2002-2005 deduction on the front of the 1040 is a non-business amount.
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EE US Savings Bond Interest 1992-1994
I need to find out the dollar value of interest earned per year on a $5,000 US EE Savings bond purchased in 09/1992. for the years 1992, 1993 and 1994. The Govenment's Treasury Direct website bond...
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Investments in Canada how to report to IRS
How do I file / report income form a canadian source (mutal funds ect - Ordinary dividends/interest < $1000) reported on a Canadian T3 form with our US tax returns? I am a permananent resident in the...
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Declaring an Inheritance from Canada to the IRS
I am a Legal Permanent US resident, Canadian citizen, married to a US Citizen. I just received an inheritance cheque in the mail for $25K Cdn funds. I know I don't have to pay taxes on it, but I have...
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S-corp: Retained Earnings vs. Reserve Account
My family owns an S-Corp with seven employees. We have a sharp cash flow cycle due to a reimbursable lag in our industry. Because our ARs during the first of the year take longer than normal to get...
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Treatment of long-term capital gains for a C corporation
Can someone give me an overview of how long-term capital gains are treated for a small C corporation? I'll bring it up with my CPA later, of course, but I like to have a heads-up on how its all...
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