Taxes General Forum

Gift value for illiquid asset

With the talk of tax reform, I am researching a particular aspect of the gift tax. I understand the $5.49M exemption on...

9 comments posted 8yrs

posted by JoeTaxpayer

9 comments posted 8yrs posted by JoeTaxpayer

Taxation - Employer pays premiums for individual life insurance

Situation: For an employee benefit, a small business employer pays the premiums for (non-group) term life insurance pol...

3 comments posted 8yrs

posted by gindie

3 comments posted 8yrs posted by gindie

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 some...

7 comments posted 8yrs

posted by spamtrap

7 comments posted 8yrs posted by spamtrap

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...

0 comments posted 8yrs

posted by tempuser

0 comments posted 8yrs posted by tempuser

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...

25 comments posted 8yrs

posted by kurtullman

25 comments posted 8yrs posted by kurtullman

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 t...

1 comments posted 8yrs

posted by nospamplease

1 comments posted 8yrs posted by nospamplease

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 no...

0 comments posted 8yrs

posted by spamtrap

0 comments posted 8yrs posted by spamtrap

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...

2 comments posted 8yrs

posted by rgsros

2 comments posted 8yrs posted by rgsros

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. I...

1 comments posted 8yrs

posted by njoracle

1 comments posted 8yrs posted by njoracle

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 dr...

5 comments posted 8yrs

posted by r_q_einstein-mlm

5 comments posted 8yrs posted by r_q_einstein-mlm

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 ow...

5 comments posted 8yrs

posted by Jwisnia18

5 comments posted 8yrs posted by Jwisnia18

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...

2 comments posted 8yrs

posted by nickkaranatsios

2 comments posted 8yrs posted by nickkaranatsios

401(k) after retiring

Just speaking hypothetically -- Someone has been contributing $2K per monthly paycheck to his 401(k), which would total...

1 comments posted 9yrs

posted by the_stan_brown

1 comments posted 9yrs posted by the_stan_brown

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...

14 comments posted 9yrs

posted by wade

14 comments posted 9yrs posted by wade

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 sm...

1 comments posted 9yrs

posted by wayneroberts001

1 comments posted 9yrs posted by wayneroberts001