Taxes General Forum

Is there a rule for salary I should pay from business?

I own a computer software development business. The net income is around $120,000/yr. I pay myself a salary of a flat $...

3 comments posted 15yrs

posted by johnmolinda

3 comments posted 15yrs posted by johnmolinda

IRS Collection Statute Of Limitations Question

Joint Tax returns filed timely for 1988, 1989 and 1990 with large unpaid tax due. Bankruptcy freeze lasted about 1-2 ye...

11 comments posted 15yrs

posted by Temprock

11 comments posted 15yrs posted by Temprock

CCH Tax News Headlines - February 15, 2011

CCH Tax News Headlines - February 15, 2011 Federal Headlines: 2/14/2011 - _CCH Weekly Report from Washington, D.C._ (ht...

1 comments posted 15yrs

posted by TaxService

1 comments posted 15yrs posted by TaxService

Foreign Income Tax Refund

From: snipped-for-privacy@weizmann.ac.il (Larry Israel) Path: weizmann.ac.il!VSLARRY Newsgroups: misc.taxes.moderated S...

1 comments posted 15yrs

posted by VSLARRY

1 comments posted 15yrs posted by VSLARRY

Question passive losses

Let's say there is a person who had passive losses on rental real estate. According to Form 8582 this person is allowed...

3 comments posted 15yrs

posted by cruehrwe

3 comments posted 15yrs posted by cruehrwe

rental not-for-profit vs. personal use

I'd like to confirm my understanding of some points in Pub 527: A dwelling unit has a day of "personal use" if you * re...

5 comments posted 15yrs

posted by makbo

5 comments posted 15yrs posted by makbo

Form 8880 Ret Sav Credit

Will my income from a qualified retirement plan, all taxable, Box 7 is coded with a 7. Cause the 8880 to be nullified ev...

2 comments posted 15yrs

posted by bh2os62

2 comments posted 15yrs posted by bh2os62

Which version of TurboTax should I use?

I was looking at the application chart at Office Depot this afternoon. It seemed to indicate that I would not be able t...

2 comments posted 15yrs

posted by kriszimbel_at_gmail_dot_com

2 comments posted 15yrs posted by kriszimbel_at_gmail_dot_com

Tax situation on inherited rental home

If I purchase a home and immediately rent it to my daughter. What would be the tax situation if she were to inherit it...

9 comments posted 15yrs

posted by waltxj

9 comments posted 15yrs posted by waltxj

bond purchase includes interest

I purchased some tax-free bonds. The purchase included some interest amount. I assume that would not be deductible? Mel

1 comments posted 15yrs

posted by mzb

1 comments posted 15yrs posted by mzb

Margin Interest Expense

I have $53 of margin interest from trading stocks. I am not itemizing. Is there any way I can deduct this expense? Mel

2 comments posted 15yrs

posted by mzb

2 comments posted 15yrs posted by mzb

Disposal of ex-rental asset

We had rental residential real estate that I have since converted usage into our primary residence. While it was a rent...

5 comments posted 15yrs

posted by 75270_3703a

5 comments posted 15yrs posted by 75270_3703a

Michigan Resident. California Internship (CA SDI Tax withheld)

Hello, I was wondering if anyone could suggest a solution to my situation. I am a Michigan resident who did a 13-week i...

1 comments posted 15yrs

posted by irina.babushkina

1 comments posted 15yrs posted by irina.babushkina

Correcting an IRA Distribution

my mother-in-law requested her IRA distribution for 2011 on Dec 31, 2010. The Bank actually made the distribution on th...

1 comments posted 15yrs

posted by michaeljgamble_at_yahoo_dot_co

1 comments posted 15yrs posted by michaeljgamble_at_yahoo_dot_co

Rental house

Hi, I bought a house last part of 2010 (not the one with the partners) and spent money fixing it up. It rented Feb 2011...

2 comments posted 15yrs

posted by jeffreypbarber

2 comments posted 15yrs posted by jeffreypbarber