Taxes General Forum

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How to be able to contribute max to Retirement?

I meet the IRS requirements of a Real Estate professional. I own real estate that is leased out. Each property has its...
4 comments posted 5yrs
posted by jessica.beltz
4 comments posted 5yrs posted by jessica.beltz

Home Office question

Husband and I have a LLC which is run from our home. We have a dedicated room that is 100% used as an office. Desk, Pri...
2 comments posted 5yrs
posted by jenny.sharp
2 comments posted 5yrs posted by jenny.sharp

State tax on non-resident spouse

Here's a question I never considered before. Husband and wife are residents of different states, and each works in the...
12 comments posted 5yrs
posted by spamtrap
12 comments posted 5yrs posted by spamtrap

Accounting methods

Can a subsidiary and a parent company use different accounting methods. Cash and accrual?
0 comments posted 5yrs
posted by cymccorm
0 comments posted 5yrs posted by cymccorm

problem with sudden windfall

I have a large capital gains in a stock that I want to take this month, no later. This might create a tax issue with un...
7 comments posted 5yrs
posted by moo
7 comments posted 5yrs posted by moo

Help with HRA

We have an LLC (1065 for Irs tax filing). Husband and wife LLLC- 2 members/partners - get K1 at the end of the year. We...
5 comments posted 5yrs
posted by jessica.beltz
5 comments posted 5yrs posted by jessica.beltz

Will I be penailized for late submission?

I opted for an extension to file my 2019 federal IRS tax return to Oct 15th, 2020. I went to the USPS office personally...
1 comments posted 5yrs
posted by gloriahiltz
1 comments posted 5yrs posted by gloriahiltz

Form 433-F

Hi - Taxpayer got behind and is now negotiating with the IRS. He recently (since accruing the debt he is talking to the...
2 comments posted 5yrs
posted by spamtrap
2 comments posted 5yrs posted by spamtrap

Kiddie tax on long-term capital gains.

My minor child has a brokerage account containing long-term capital gains. Any stock that she sells will be her sole in...
4 comments posted 5yrs
posted by nadcixelsyd
4 comments posted 5yrs posted by nadcixelsyd

Solar Tax Credit and Rebate

Someone installs a Solar System in 2019 and takes the full 30% tax credit on the 2019 tax return. Let's say it's a $600...
12 comments posted 5yrs
posted by tempuser
12 comments posted 5yrs posted by tempuser

California Minimum Franchise Tax

This should be an easy question, but I seem to see conflicting information on the California Franchise Tax Board websit...
2 comments posted 5yrs
posted by spamtrap
2 comments posted 5yrs posted by spamtrap

HOA won't provide receipt for dues payment

I own 2 rental properties in a particular community. Like most home- owners associations, they have retained a manageme...
10 comments posted 5yrs
posted by arequipeno
10 comments posted 5yrs posted by arequipeno

Maximize Retirement Deferral

I have about $12K in Schedule C income. I have no other earned income. I have both an IRA and a self-employed 401(k). W...
0 comments posted 5yrs
posted by dontspamme
0 comments posted 5yrs posted by dontspamme

How can I avoid taking a cap. gain here

I have a stock, say XYZ, with a HUGE gain. It is VERY volatile, so I'd like to unload it, but take the profit next year...
4 comments posted 5yrs
posted by moo
4 comments posted 5yrs posted by moo