Best Rated threads in Taxes General Forumshow all threads
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CA Resident with non-resident spouse
Hello, I'm a California resident for tax purposes, and have California income to report. I got married in 2007 to a Washington, DC resident who had only DC income and no California income. She was...
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16 years ago
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Renting building owned by LLC to LLC member
The situation is I have a small business that I run through a single member LLC. I purchased a building under my personal name. Can I rent the building to the LLC? The income generated would be...
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16 years ago
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CP2501 letter
We received a CP2501 letter saying that the IRS received 7 1099-B reports that were not included on our 2006 return. The problem is that all 7 stock/mutual fund sales that they are questioning _were_...
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16 years ago
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Tax Implications of Early Retirement Lump Sum Payment???
If anyone can help me with this, I would appreciate it. I turn 55 this year, and I become eligible on my birthday to get a lump sum retirement payment from my former employer. It will be around $90K....
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16 years ago
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Individual 401k for W-2 contractor
I work as a contract programmer for several clients, and for some, I work from home, and my hours at each client vary quite a bit from week to week. I can easily pass the IRS test of "self...
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16 years ago
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W-8BEN what's that all about?
Our UK accountancy firm acts for a UK registered trading company which is entering into a contract to supply a customer in USA. The USA customer has asked our UK company to provide a W-8BEN. Can...
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16 years ago
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Tax treatment for selling a patent
An inventor has a patent that he wishes to sell to a company. So far so good, IRC sec 1235 says that if an inventor sells "all substantial rights", it's treated as a capital asset and capital gains...
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16 years ago
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S Corp missed the exended deadline of Sep15th
I have missed the extended deadline of Sep 15th. Could some one let me know my options ? Thanks in Advance.
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16 years ago
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Is the Credit Shelter Trust a Grantor Trust?
Husband is the primary beneficiary of the wife's testamentary credit shelter trust. Husband is Trustee unless he resigns, then sons become Co-Trustees. Trustee may distribute income and principal for...
4
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16 years ago
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SEC Fair fund
I recently received a check (dated 04/23/07) payable to my late mother. I'm assured by the family law firm that it belongs to the bypass trust funded by her death. But the question I have is in regard...
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16 years ago
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Question re: bad handling of 401k
I've done some bad planning on my 401k. I am changing jobs and contributing $6000 was enough to get maximum employer match ($3000) from my current employer, but I contributed $15,000, close to the...
7
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16 years ago
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7 | |
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Transfer of Prop 13 benefits when inheriting family home via Trust?
My brother thinks that one must become a "tenant in common" to keep Prop 13 benefits when one inherits a paid for home that is part of the family trust. Isn't there some protection for transfer of...
5
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17 years ago
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Taxation of Non Resident for MA Partnership
I have an 3K-1 from a MA partership. My husband works full time for the Partnership outside of MA. We file a Form1- NR/PY for MA. On the Form 1, Line 9, it asks for Income/loss of the partnership. We...
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17 years ago
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Who should send me a 1099-S?
I sold a house last year, but never received a 1099-S. I've read that it should come from the closing agent, but more specifically its said your RE agent, your title company, or your mortgage company....
3
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17 years ago
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Schedule C vs. Other Income
I earned about $1000 in 2006 by providing tutoring and related services to about 15 different people. I heard I can declare those $1000 in Schedule C. I understand that the other option is to use the...
2
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17 years ago
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appealing refund statute of limitations
After a long period of "recovery" I finally submitted my overdue returns in January. Eight years worth! In each of those 8 years I was overpaid between withheld and estimated taxes paid in. Plus I had...
6
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17 years ago
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Annual CA-VPDI discussion
I've read the threads from 2003 and 2004 about whether CA-VPDI is deductible on the federal 1040 Schedule A. It appears no consensus was ever reached. So let me re-raise the issue, with another...
1
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17 years ago
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deduct conference expenses for graduate student
I am a PhD student and have accepted a position to be a faculty member this coming fall. I am filing itemized deductions. This past year, I attended several academic conferences related to my field....
1
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17 years ago
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Put Education Expenses Where?
Publication 970 clearly states that I can deduct education expenses as part of being self-employed. Does this cost go on Schedule C as a business expense or Schedule A as a deduction? Thanks
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17 years ago
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8 | |
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filing status ? - Married but living in different states
My wife and I were married in 2006, but due to job situation, I live in VA and she lives in MD. We commute on the weekends. Some people say that we are "considered unmarried" for the tax filing...
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17 years ago
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