Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
Citizenship test for dependent
I have a case of a US citizen and a non-US citizen who reside abroad. They have three children, all born outside the US. A few months ago, they managed to get their kids US citizenship (passports,...
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CCH TAX NEWS for October 23, 2006
CCH TAX NEWS for October 23, 2006 FEDERAL NEWS CCH Weekly Report --What's Happening on the Tax Front: SFC to Review JCT Options to Close Tax Gap; Baucus Presses Everson on Extenders Tax Provisions;...
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CCH TAX NEWS for October 20, 2006
CCH TAX NEWS for October 20, 2006 FEDERAL NEWS IRS Provides Transitional Definitions Regarding Appraisals of Donated Property Pending Regulations (Notice 2006-96) Issues Final Regulations Covering...
 
Vacation Home Rental
It's not clear from your post what the conflict of opinion centered around, so I'll just quote the Code and let you see if that's gonna clear up the fuzziness. Here's IRC section 280A, in part: (1) In...
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1041 for estate in litigation
Would it make sense to set up a separate trust, which gets the income that should be distributed to the beneficiaries and holds it until the court rules on who the benficiaries are? Seth
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Gift of appreciated stock
His cost basis and acquisition date for appreciated stock are the same as yours. If he is under age 18, however, he may have to pay the Kiddie tax, which increases his tax rates on some income to be...
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Embassy Income Tax Free???
If she's a US citizen then she has to pay US income taxes. If she's a US resident she has to pay US income taxes. If she's a diplomat there are special rules. The foreign government isn't subject to...
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Trad IRA to Roth IRA conversion - state tax deduction
This is a follow-up question to my question last month. I want to convert $52,000 from a traditional IRA to a Roth IRA this year (2006). My AGI for 2006 will be about $90K. I'll owe about $4800 in...
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tax liability question for income earned in China
If you meet the requirements (and it sounds like you probably will) you would qualify for the foreign earned income exclusion. You would report your gross salary (before Chinese taxes) and then take...
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LLC benefits (going from Sole Proprietor)
"Gil Faver"
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Question about unemployment benifits for relocating.
On the other hand, if you tell them you're looking for another job and they fire you, then you are eligible. Seth
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LLC did not give schedule K-1
Have you called to request the K-1? Mike
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NY Tax for Nonresident
"Stuart A. Bronstein" wrote Oh yeah. New York (as with other states) will be aggressive about it. Get return(s) prepared and filed and pay the tax and interest, but beg for the penalties to be abated....
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Bank Closure of my accounts
Under certain circumstances the bank may be liable for fraudulent activities even though you are just the intermediary (somewhat like a credit card processor). If the business is important I would...
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Life insurance benefit/ gift
Just going through some old posts here... this comment brought to my mind a "well what if" question... if you folks don't mind... what if the father had cosigned the loan with his daughter and son in...
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