Best Rated threads in Taxes General Forumshow all threads

Subject Author Posted Replies
 
Two W2 forms
I have Two W2 forms for year calculate TAX is it a simple maths like ADD both the Gross and ADD both the Federal withholding ,to calculate TAX or there is other way. thnx jas
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Spouse responsible for past IRS debt?
I owe taxes to the IRS for the years 2000-2004, and have an installment agreement to pay it back. I was married last year (2006) - will my new husband be responsible for this debt? I realize that if I...
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capital loss carry over discrepancy between Federal and State (CA)
I did my taxes last year using Turbo Tax. While going through a copy of my returns, I realized that there is discrepancy of about $500 between the capital loss carryover in the worksheets between...
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Is my W2 box 2 info wrong?
Well, I just got my w2 in the mail today, started to fill out my 1040ez forms and noticed something I've never seen before. Box 2 lists my federal income tax withheld as only...$1.04! It also says I...
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live in NY, work in NJ tax question
If I were to live in NY, but work in NJ, can anyone explain exactly how the tax situation would work out? Would I end up paying more taxes? What about my withholdings in my paycheck? Any info...
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Can I deduct deferred mortgage interest?
Since may of 2005 I have had a minimum payment mortgage on my house. I have incurred, this year alone, $3700 in deferred interest which was added to the principal of my loan each month. I was...
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Mistake on Flexible Spending Account
I recently made a mistake on my Flexible Spending Account reimbursement. I submitted a reimbursement request to my FSA administration after I had received a medical servcie and paid full amount. I...
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Qualified Charitable Distribution from IRA
Has anyone seen any details on how the mechanics of the QCD will work? The only thing I've seen is that the gross amount goes on 15a, the taxable (if any) on 15b, and "QCD" on the dotted line. Nothing...
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Overpaid state witholding -- strategy?
I'm in a situation where the amount I paid California in 2006 estimated tax payments during 2006 is considerably more than my actual tax liability. Is it possible to not claim the excess amount paid...
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FICA withholding question
I own a company in which I earn well over the SS limit. If I pay myself salary in a second company, can I be exempt from withhold SS if I don't draw any salary until after I'm over the limit in...
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Montessori School for preschool
I have twin 4-year olds in a Montessori school. It is called children's house and one of my daughters takes a nap during the day. However, everything is designed to be educational...from squeezing...
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Foreign Inheritance - How to bring to USA?
My wife may shortly be receving a sizable inheritance from a dying relative in Asia. I believe inheritance is nontaxable, but would we need any special documentation on file when we send the money to...
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"creative" suggestions for making child care a business expense
I have a client who is a photographer (mainly weddings and special events). She has a 2-yr old son who needs care both while she is shooting and while she is editing. She estimates that she needs 1200...
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New installment agreement after default?
I recently hired an attorney/tax advisor to work on my behalf with the IRS on my tax issues. I owed $2067.00 for my 2004 Federal income tax. I was able to get an installment agreement approved for...
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NYC 1127
Drew, I haven't spent a lot of time looking at the forms, but I see the ambiguity you reference in the instructions. The point of this exercise, if I understand it, is to calculate the amount of tax...
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Does Wash Sale apply to ESPP holdings?
My wife has participated in her employer's Employee Stock Purchase Plan (ESPP). The company is a publically traded company, and the discount offered is 15%. Recently, she sold some of the stocks from...
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Patent exchange for stock
I'm a taxation student and I need your help to clarify an issue in a case I'm doing now: What's the tax treatment of a taxpayer's acquisition of a company's stock in exchange for his patent? The...
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Can't get employer to give 1099
What do I do if I cannot get a contractor that I did sub-contract work for all of 2005 to issue me a form 1099? He says he don't have one and for me to look back at my deposits and figure it out, I...
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DUI class fee deduction
For most it would not be deductible. But if she were a pilot or school bus driver? -- Frederick E. Jorden Midlothian Tpk - 207 Richmond, VA 23235-5247EMAIL 320-6210 FAX (804) 320-6211
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Prepaid funeral expenses?
Where in IRC 2053(a)(1) does it say that the funeral expenses have to come from funds includible in gross estate? It only says that a deduction shall be allowed against gross estate - and here, it is...
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