Taxes General Forum

FILING STATUS CHANGE

Is IRS changing Filing Status options on 1040's? Not Married vs. single and/.or surviving spouse from Qualifying widow(e...

2 comments posted 12yrs

posted by bh2os62

2 comments posted 12yrs posted by bh2os62

W-2 versus 1099

Suppose a 30-year-old W-2 employee with no dependents is earning $50 per hour in a state with 3% income tax. All else b...

3 comments posted 12yrs

posted by sbernelli

3 comments posted 12yrs posted by sbernelli

Small business expenses while working full time

I am developing a small business on nights/weekends while working full time. The first year or two will be spent develo...

13 comments posted 12yrs

posted by smartiothome

13 comments posted 12yrs posted by smartiothome

Tax Preparer Fraud

Scenario: Good friend of S-Corp single shareholders spouse hired to do payroll taxes, yearly federal, state and privile...

0 comments posted 12yrs

posted by Fleeced In Broad Daylight

0 comments posted 12yrs posted by Fleeced In Broad Daylight

754 election and depreciation

Is there any support for a partnership, once taking in a partner's new basis inside the partnership, to NOT allocate de...

5 comments posted 12yrs

posted by PicoRico

5 comments posted 12yrs posted by PicoRico

I have a situation similar to the one attached. Can I roll the aftertax

contributions and the related earnings into a roth or must I use a roth401k? The fidiciary has already issues me a chec...

0 comments posted 12yrs

posted by Bob Gray

0 comments posted 12yrs posted by Bob Gray

Capital Gains Exclusion on Contract for Deed

If I sell my house for $800K using a Contract for Deed and have a $500K basis and a $500K capital gains exclusion, is i...

1 comments posted 12yrs

posted by Coach

1 comments posted 12yrs posted by Coach

Will MD reissue state tax refund from yr 07, issed 10/09, exp 1 yr after issue?

I just found a personal MD tax refund ck for $650 when purging records. Issue date 10/09, says void after 1 year. Can I...

1 comments posted 12yrs

posted by Linda

1 comments posted 12yrs posted by Linda

USSC: Inherited IRAs Are Not Exempt From Bankruptcy

In a unanimous decision, the USSC upheld the 7th Circuit decision that funds in inherited IRAs are not entitled to the...

1 comments posted 12yrs

posted by tempuser

1 comments posted 12yrs posted by tempuser

Phil Marti

I noted the recent absence of long time contributor Phil Marti, did a Google search, and found notice of his passing in...

4 comments posted 12yrs

posted by afn02552at

4 comments posted 12yrs posted by afn02552at

Do payments from a private disability policy have to be reported as income

All premiums are paid for by the disabled person. Do payments from this policy have to be reported as part of income?

3 comments posted 12yrs

posted by Wendy

3 comments posted 12yrs posted by Wendy

Receiving IRS notices for cousin at my address; will the IRS eventually initiate a criminal investigation?

Hello, So I have a cousin who lives in Hawaii now and I have not seen or spoken with him in over twelve years. I have n...

1 comments posted 12yrs

posted by caj11

1 comments posted 12yrs posted by caj11

foreigner bringing savings into the US - tax?

hi! im a european citizen (EU member country) with an american fiance. soon i will be moving into the US to marry him....

1 comments posted 12yrs

posted by erika.kiss0000

1 comments posted 12yrs posted by erika.kiss0000

what is a nonrecaptured 1250 gain?

I sold a small piece of land and my net proceeds = $5500.00 I am working on a schedule D and I have to determine if I ne...

2 comments posted 12yrs

posted by Seamist

2 comments posted 12yrs posted by Seamist

RMD from inherited IRA

Here's the situation I need your help with. My grandmother passed away last summer and left all her assets to her child...

4 comments posted 12yrs

posted by pshafer.hotmail

4 comments posted 12yrs posted by pshafer.hotmail