Latest threads in Taxes General Forumshow only best voted threads
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Want to rent out home but stay in same area, open to many options pls advice
My current home is now too large for my needs. My husband is out of state and works there. I am thinking of moving into a smaller condo/townhome closer to amenities but would like to keep this home. I...
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11 years ago
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interest on loan for summer house or rental property
My wife raised the question if the interest on a mortgage for a summer house or for a rental property is tax deductible. I don't know since I have neither. Any idea???
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11 years ago
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Distribution From Trust Taxable?
A trust has sold its only asset and will pay the appropriate capital gain tax from the proceeds. Is it correct that a partial distribution of the remaining corpus to a trust beneficiary would be tax...
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11 years ago
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prop 30 and marriage penalty
BEGIN QUOTE For that portion of taxable income that is over three hundred forty thousand dollars ($340,000) but not over four hundred eight thousand dollars ($408,000), the tax rate is 10.3 percent of...
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11 years ago
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Expatriate and State Taxes
Let's say that I move to another country to work, and have no actual residence in the USA. I am still a USA citizen and plan to return eventually. The country I am considering has no income tax...
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11 years ago
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Change of S-Corp name
Can the name of an S-Corp be changed without starting all over again, i.e., can it use the same EIN?
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11 years ago
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Rink V CREF settlement
Just received a much larger settlement check than I expected from a class action suit: Rink V CREF. I can find nothing in the literature or on the web site ( about the tax status of this settlement,...
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11 years ago
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Taxation of UBIT in IRA
My understanding is that UBIT is due to leveraging done by MLPs which means that a portion of their income relates to debt as a percentage of income and is considered UBIT. Since you are not allowed...
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11 years ago
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RTRP Test
Passed my RTRP test! I was disappointed some of the questions were so simple. There were more questions on Child Tax Credit than EITC for some reason. Lots of questions on who is a dependant. This may...
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11 years ago
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Opting Out of OVDI (2011) or OVDP (2012): Experience?
Have any of your clients elected to opt-out of the 2011 IRS Offshore Voluntary Disclsoure Initiative (OVDI) (or even the 2009 OVDP)? What has been the experience/result/IRS and or Court reactions...
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11 years ago
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what is penalty if you fail to take RTRP test
If you required to do the "Registered Tax Return Preparer competency test" by 12/31/2013 and fail to do so, and file tax returns in 2013, and go out of business on 12/31/2013, then what is the...
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11 years ago
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FILING OF TD F 90-22.1 as a Treasurer of small church
As a current expat, I am treasurer of a small Catholic church group. I have no financial interest in this account but only deposit funds and pay bills. The account has over 10K in it. Any...
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11 years ago
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SE-401K mid-year opening?
Re. new SE-401K account for a single-person LLC with no other employees (which is treated as a Schedule C business) where a separate bank account is maintained, where no compensation other than...
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11 years ago
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401K Loan Default
I currently have an existing 401K loan through my company. In January of 2013 I will be moved to a new company and even though both companies used Fidelity I have been told that I must pay off loan...
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11 years ago
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Does built in gains tax apply to a S Corporation that converts back to C Corp?
If the entity converts back to a C Corporation does the recognition period continue until the 7 years expire? or, Does the entity have to pay built in gains tax as of the date of conversion back to a...
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11 years ago
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