Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
Status of Educator Expense and Tuition and fees Deduction
1040 line 23 Educator expense 1040 line 34 Tuition and fees deduction Were these deductions which expired last year (12/31/05)extended by Congress for 2006? Thanks Carl
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What is the import tax on ebay purchase?
I am interested in an ebay auction item (an art glass vase). The seller is in England. If I win this item, who will pay the US import duty? This is not specified or discussed in the listing at all. I...
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Treatment of long-term capital gains for a C corporation
Can someone give me an overview of how long-term capital gains are treated for a small C corporation? I'll bring it up with my CPA later, of course, but I like to have a heads-up on how its all...
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Short-term gain from 401k with employer match?
Hi, I find myself sometimes thinking that there's a way to realize a short-term gain (over one's given compensation) from a 401k contribution, even including the early withdraw penalty, and I'm...
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short-term cap gains in mutual fund?
The "estimated 2006 capital gains distribution" for a mutual fund of mine lists both short-term and long-term gains. But, their 2005 1099 just listed "total" cap gains, which also seems to be what...
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S-Corp income reporting
As an S-Corp in California, will I receive a "W-2 like" form reporting the income that was paid to my company by each payee? Is this income even reported to anyone like it would be if I was an...
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Paying taxes on home office depreciation... closing a home office (formerly self employed)
I stopped using my home office for business on 3/06; I depreciated the home office portion of my house for about four years. I have not sold my home, but I am no longer self employed, so it looks like...
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CCH TAX NEWS for December 7, 2006
CCH TAX NEWS for December 7, 2006 FEDERAL NEWS Extenders Talks Break Down; Grassley Introduces Separate Bill Security Rate Set for Computing Current Plan Liability and Required Contribution for...
 
Telephone Tax Refund Question
I posted this query in an earlier thread, but received zero responses. Here it is again: My wife and I have a zero income adult dependent son who does not live with us. We provide all of his funding...
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small business tax question
I am contemplating starting a small business in the USA, and would appreciate opinions on the tax and legal implications. The following (hi)story will best explain what I am intending to do: A friend...
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tax consequence of loan
Premise: I own stock in an S corp for many years. A stockholder/partner in the same S corp lends me money and I give my stock to that partner as collateral. I have 6 month term to either pay back loan...
 
IRA rollover
Speaking of IRA rollover, as Bill was, one of my clients got a notice from IRS wanting 10% on a distribution which was rolloved. there was a code 1 in block 7, so that is probably what piqued their...
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Expenses for environmental remediation deductible?
I used to own stock in a company that owns some environmentally challenged land. The company is coming after me for part of their remediation costs because I owned stock when the problem happened. (or...
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Consumer Price Index Calculations
I have a problem maybe you'll be able to help me.I have no idea of how the calculations work for CPI. I have a formula that takes the ground rental cost lets say $50000 then takes the cpi from 2001...
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CCH TAX NEWS for December 6, 2006
CCH TAX NEWS for December 6, 2006 FEDERAL NEWS Add-Ons Stalling Tax Extenders Bill NEWS Delaware --Corporate Income Tax: Tax on Bank's Interest Income Did Not Violate Commerce, Due Process Clauses a...