Taxes General Forum

Is there a downside to obtaining an EIN and registering as a Sole Proprietor

Dear forumers. I work as an Independent Contract and receive a 1099. I file a Schedule C every year. This year I would...

1 comments posted 11yrs

posted by elodie.gillain

1 comments posted 11yrs posted by elodie.gillain

ROTH IRAS

Regarding ROTH IRSs, Age 65, 5 year rule satisfied. Qualify for tax free distributions. Question: Do future contributio...

10 comments posted 11yrs

posted by bh2os62

10 comments posted 11yrs posted by bh2os62

wrote wrong amount on 2014 tax payment. what do i do now

I owe taxes on 2014 Federal tax return. I put the correct figure in on my check, but I incorrectly wrote the handwritte...

12 comments posted 11yrs

posted by Polly

12 comments posted 11yrs posted by Polly

gift taxes/GST in an ILIT

A trust owns a life insurance policy. The beneficiaries of the trust are the wife and son. According to the attorney, t...

0 comments posted 11yrs

posted by garyg7

0 comments posted 11yrs posted by garyg7

amend a tax return

Hello, I need to amend my 1040 tax return that I filed recently for 2014. The only change I need to make is remove inte...

4 comments posted 11yrs

posted by stailor59

4 comments posted 11yrs posted by stailor59

IRS Chief Counsel memo on MA "circuit breaker credit"

If any of you practice (or live) in MA and haven't seen this, you may wish to read it. The Office of Chief Counsel has...

0 comments posted 11yrs

posted by rlc-news

0 comments posted 11yrs posted by rlc-news

Home Renovation & Basis Adjustments

What expenditures from home renovation can be added to the cost basis? 1. General construction including painting -- ye...

4 comments posted 11yrs

posted by m8r.jn1sdp

4 comments posted 11yrs posted by m8r.jn1sdp

Form 8937 Report of Organizational Actions Affecting Basis of Securities

Now that April 15 rush is over, I hope someone will answer these questions: I owned an ADR of a foreign company ("FC")....

5 comments posted 11yrs

posted by m8r.jn1sdp

5 comments posted 11yrs posted by m8r.jn1sdp

eFiling in TurboTax

The program tells me that NY Does not allow eFiling when the W2 w/o is greater than 25% of wage. So I check not to File...

0 comments posted 11yrs

posted by m8r.jn1sdp

0 comments posted 11yrs posted by m8r.jn1sdp

I have returned

I have been offline for almost two years due to what to me was a major disaster. Fortunately it was not another surgery!...

5 comments posted 11yrs

posted by rdadams

5 comments posted 11yrs posted by rdadams

Getting screwed on my Gambling "income" this year even though I got no cash out of it.

Since I don't own a home and don't itemize I am screwed this year. I forgot that the law mostly allows only those who o...

23 comments posted 11yrs

posted by xyzer

23 comments posted 11yrs posted by xyzer

backdoor Roth -- is it still valid?

I came across this article: http://www.forbes.com/sites/ashleaebeling/2015/02/02/obama-budget-would-prohibit-backdoor-r...

1 comments posted 11yrs

posted by ghanwani

1 comments posted 11yrs posted by ghanwani

Advice for Msician related expenses

I wonder if I could get some education about one increasingly complex area of our tax situation. My wife is a musician...

4 comments posted 11yrs

posted by mikes.mail.lists

4 comments posted 11yrs posted by mikes.mail.lists

Depreciation when business use changes each year?

While I (believe) I know how to depreciate something that is used 100% for business or whose less-than-100% use is the...

1 comments posted 11yrs

posted by rlc-news

1 comments posted 11yrs posted by rlc-news

amend 1040 to include deduction for new HSA contribution?

Hi, I already filed my 1040 for 2014, then realized that I had not maximized my HSA contribution yet. I assume I can ma...

2 comments posted 11yrs

posted by pshafer.hotmail

2 comments posted 11yrs posted by pshafer.hotmail