Latest threads in Taxes General Forumshow only best voted threads
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How to treat income?
Taxpayer's investment advisor convinces them to sell the IBM and to buy an annuity. State Office of Investment Regulation finds that the investment guy gave improper advice. (Like how often you see...
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11 years ago
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Criminal bacground requirements
PTIN and EFIN requirements are different. For EFIN the old misdemeanors might matter.
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11 years ago
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Is sale of rental property at a loss considered capital or ordinary loss?
What is the correct tax treatment of the sale of rental property at a loss? Is it considered ordinary income or a capital loss? A recent posting here suggests it is a capital loss, but other sites and...
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11 years ago
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capital gains on houses
Lets say I own a house that I paid $200,000 for 20 years ago. Now I buy a second house for $400,000. Two years from now I sell my first house for $300,000 and move to the second house. 10 years from...
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11 years ago
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Estimated Tax on Savings Bond Interest?
This is a follow-up to a question asked previously on this site. Taxpayer owns $98,000 worth of Series EE savings bonds, which will mature in July 2022. Because of the 4% interest they earn, taxpayer...
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11 years ago
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How much to get out of retirement?
I have a friend who is disabled (double lung transplant) She wants to take out the maximum amount she can without having to pay at a higher bracket. She lives in GA No out of state income. No tax...
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11 years ago
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Let us pay our respects to Gene Utterback
Gene and I were planning to get together this weekend after the Homebrewed Beer Judging was over. However, when I called the other day, his wife told me he had passed away on May 31st. Gene was here...
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11 years ago
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IRS is stalling on my amended return; anything to do?
I have foreign dividend income, but rarely enough income to use the Foreign Tax Credit. In 2007 I had substantial income, so I had an accountant prepare my taxes. In April 2011 he filed an amended...
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11 years ago
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Pension Records, Statute?
What would be the statute of limitations on pension plan records? How far back should the plan administrator keep the accounting and tax records? I have a client who has a former employee demanding to...
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11 years ago
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What to say?
I love taxpayers with strange tax problems who get sent to me by family members and "friends". I need to implement a better screening policy. If you have been referred to me by a family member, I am...
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11 years ago
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Travel expenses for employee at 2 business locations
Hi gang, hope you summer is going great! I have a couple to throw to you "wolves"! Taxpayer is an employee, and serves her employer at 2 locations - in two different states. Taxpayer's home state is...
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11 years ago
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terminology: to "offset"?
Reading the other thread on Individual Mandate Penalty made me wonder, are the following phrases meaningful, and can they apply independently of each other for any given taxpayer? 1) offsetting a tax...
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11 years ago
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Answer To A Forthcoming Question
Shortly, someone is going to post the following: I just received a rebate check in the mail on my medical insurance. Is it taxable? The reason for this question is that under the Affordable Care Act,...
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11 years ago
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Giving money to a trust fund
I'm concerned about my three grandchildren's education so I want to set up a trust fund to cover that. I want to fund it on occasion when I have excess cash that I know my wife will not need. When I...
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11 years ago
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Medical Expense Loan
If an individual has a medical procedure performed, and as a result, owes the hospital money for the procedure, and the hospital agrees to accept installment payments for the procedure over a period...
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11 years ago
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