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Foreign tax credit - no tax treaty

As a USA citizen, if I have an investment in a foreign country that does not have a tax treaty with the USA (such as Co...
1 comments posted 5yrs
posted by tydeman.consulting
1 comments posted 5yrs posted by tydeman.consulting

Wash sale rule

https://www.irs.gov/pub/irs-drop/rr-08-05.pdfsays that if I sell an investment in a non-tax-advantaged account at a los...
4 comments posted 5yrs
posted by the_stan_brown
4 comments posted 5yrs posted by the_stan_brown

S-corporation

Taxpayer is currently the only employee (but not a shareholder) of a C-corporation. Her tax advisor is suggesting that...
0 comments posted 5yrs
posted by spamtrap
0 comments posted 5yrs posted by spamtrap

PPP loan Issue

I just got a call from someone (sole proprietor) who asked for and got both unemployment insurance AND a PPP loan, with...
3 comments posted 5yrs
posted by spamtrap
3 comments posted 5yrs posted by spamtrap

How to enter a bad debt on 1040?

I let someone money, and they gave me gems as collateral. They defaulted on the loan and I finally sold all the gems. I...
1 comments posted 5yrs
posted by wadelippman
1 comments posted 5yrs posted by wadelippman

401(k) Withdrawal Issue

In 2020 OP (over age 55) went to his former employer to ask for a large distribution from his 401(k) plan. The employer...
6 comments posted 5yrs
posted by spamtrap
6 comments posted 5yrs posted by spamtrap

Weird Problem with Current Stimulus Payment

This is an odd problem with the current stimulus payment. First a little background. My wife and I are both retired, ag...
5 comments posted 5yrs
posted by rick
5 comments posted 5yrs posted by rick

Tax Returns on my laptop

My laptop is not functioning well. So I have to return my laptop to Dell to get it fixed. I have my last few years IRS...
5 comments posted 5yrs
posted by jessica.beltz
5 comments posted 5yrs posted by jessica.beltz

IRS Changes

The stimulus bill includes some changes to IRS code. Including the EITC calculation. Will this change slow up opening of...
1 comments posted 5yrs
posted by bh2os62
1 comments posted 5yrs posted by bh2os62

HRA vs Small Business Healthcare Tax Credit

Assuming a small business meets the requirements of both: 1. HRA (Health Reimbursement Account) AND 2. Small Business He...
1 comments posted 5yrs
posted by jessica.beltz
1 comments posted 5yrs posted by jessica.beltz

Short Term Cap Gains Rate

In 2020, if I am in the 12% tax rate, and have a cap gain (short term). Will the tax on it be 12% and total income is in...
4 comments posted 5yrs
posted by bh2os62
4 comments posted 5yrs posted by bh2os62