Latest threads in Taxes General Forumshow only best voted threads
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Change of LLC Ownership
I have a question - say an LLC is set up as a disregarded entity, so it uses the owner's Social Security number. If someone else buys the LLC, how is the tax ID number dealt with? Thanks.
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6 years ago
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Tax Court Decision on Applicable Period For Filing For Refund
In a case of first impression, the court upheld the IRS denial of a refund even though the tax return was filed within 3 years of the due date. Tax payments for 2012 were deemed to have been made...
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6 years ago
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401(k) to which kind of IRA
My daughter is thinking about consolidating two 401(k)s into an IRA. Can she do it to a Roth with no tax concerns or is traditional the only route. She doesn't think she has the cash to pay taxes, if...
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6 years ago
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check not received for amended return
Taxpayer has received a notice accepting as accurate the amended return, and stating a check is on the way "in two to there weeks". No check has been received after two months. Any advice how to...
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6 years ago
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Message to Taxed and Spent
You continue to try to post a message that has a link that does not work, and seems to have no other context. You do not use a valid email in your posts, so we could not communicate with you. If you...
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6 years ago
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Closing Out "In Trust For" Savings Account ? (Sr. Citizen Question, Please)
Hello, In my 80's now, so please bear with me a bit. Many, many, years ago we opened up a savings bank account labeled "In Trust For" my son. Simple CD, which we've been renewing, automatically, over...
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6 years ago
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Is a prescription drug fullfilled by a Canadian Pharmacy Tax deductible?
I have a prescription for a drug from my doctor that I fulfill using a Canadian pharmacy because it is a lot cheaper. Is the expense of the medication paid to the Canadian pharmacy U.S. tax...
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6 years ago
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gift tax consequences of Coverdell ESA transfer to 529 plan
I have a Coverdell ESA with my child as a beneficiary. The Coverdell custodian recently announced to me that they're dropping support for the account, so I need to liquidate the account. I'd like to...
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6 years ago
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How to Report Class Action Payments for Stocks
About once a month I receive an "invitation" to participate in a class action suit over some investment I own or had owned in the past. Because it's so easy nowadays to do an online search of past...
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6 years ago
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Income from deposits
I am an Australian citizen who lives in Japan (permanent resident) and once a year I bring some money to Japan from my savings account. I am already paying the 10% non-resident tax. The total amount...
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6 years ago
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401(k) after retiring
Just speaking hypothetically -- Someone has been contributing $2K per monthly paycheck to his 401(k), which would total $24K for the year. But in August, being 68 years old, he retires. Can he still...
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6 years ago
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When are 403b withdrawals required?
I have a small 403b, but it pays 4.5% interest, so I figure I should leave it alone for as long as possible. As I read it, i hae to start withdrawals the year following my 70.5 birthday. Is that...
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6 years ago
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Avoiding 99% of Texas franchise tax
I have a llc registered in New York. It is a family owned business started in 2011. My son like all my nephews own a small 2% of the stock. But play no active role in the business. He moved to Texas...
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6 years ago
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Time to reverse IRA distro?
I took a (traditianal) IRA distribution in January. Since then, I've learned that a stock I own (actually, a PTP) will be subject to a forced sale. AIUI, this will count as income, substantially...
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6 years ago
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How long do I have to keep my records for the IRS?
How long do I have to keep my records for the IRS? I had a capital loss 2 years ago ( tax year 2015) which I recorded in my tax return when I filed my federal taxes (1040). I filed the return...
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6 years ago
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