Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
Sale of Main Home - $500,000 Exemption
If a spouse dies, it seems that in order to get the full $500,000 exemption ($250,00 for each spouse), you have to sell your house the year that one spouse dies. It seems liek there must be more to...
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Real estate and end of year tax planning.
I'm sure this is obvious, but I'm not really thinking straight at the moment. Hypothetically, suppose a real estate escrow opens in 2006 and closes in 2007. Is the gain reportable in 2006 or 2007? Are...
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Pay tax on the money you loan from your company?
If my corporation has $20,000 net income, can I borrrow $10,000 for two years? Should I pay tax on $10,000? Any guideline for the personal loan from corporation? Thank you. TAXQA
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CCH TAX NEWS for November 15, 2006
CCH TAX NEWS for November 15, 2006 FEDERAL NEWS Tax Extenders Action Likely in December Leadership Names Four New SFC Members NEWS Michigan --Single Business Tax: Compensation Properly Included on...
 
Late S election
Question: An LLC formed back in 2004 and I believe started operating as a partnership with two partners. Unfortunately, one of the "partners" was paid payroll with taxes taken out for work she...
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help on TAX report for Cyber Cafe!!
hello, my name is kevin, and i own a cyber cafe in phoenix, arizona. i have couple questions about the "how to report tax in phoenix, arizona" well, privilege (retail) tax license for my store (i'm...
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CCH TAX NEWS for November 14, 2006
CCH TAX NEWS for November 14, 2006 FEDERAL NEWS Installment Agreement User Fees to Go Up (IR-2006-176) Test for Determining Residency in U.S. Possession Added to Regulations (T.D. 9297) of Qualified...
 
Replacement of tax-free income
It's been 40 months since my first surgery and I really want to go back to work. My pain is bearable with help from ocassional pain killers. I just can't walk a quarter mile, walk on uneven ground, or...
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Simple 2006 Tax Question
The 2006 tax brackets state the following: Tax is 25% on the income between $30,650 and $74,200; plus $4,220.00 Tax is 28% on the income between $74,200 and $154,800; plus $15,107.50 Questions: 1....
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Sole prop then incorporated - which form(s) to file?
I was a sole prop for the first 7 months of this year, then incorporated effective 1 August. Do I file as a sole prop or C corp for 06? Thanks in advance! -- jeff
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Question about Flex Spending Accounts (Health)
I have a question, if you sign up for a company FSA and deposit say 1000.00, if you use that 1000.00 for approved FSA items, say over the counter medications on the approved list. Is there a limit on...
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PTP & income tax
I'm considering investing in a publicly traded partnership and trying to figure out how complex it'd make my taxes. To help judge, I got a sample of a K-1 form from last year. There's info in Part III...
 
Foreign Inheritance - How to bring to USA?
My wife may shortly be receving a sizable inheritance from a dying relative in Asia. I believe inheritance is nontaxable, but would we need any special documentation on file when we send the money to...
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CCH TAX NEWS for November 13, 2006
CCH TAX NEWS for November 13, 2006 FEDERAL NEWS SSA Announces 2007 Contribution and Benefit Base, Domestic Employee Coverage Threshold (Notice 2006-102) Weekly Report --What's Happening on the Tax...
 
Bought/Sold a car within a year in Massachusetts
I've got some questions on the purchase and subsequent sales of a 2nd hand car. 1. I paid a 5% tax on this car the day that I purchased it. Could I get a reimbursement since I didn't use the car for...
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