asked
A taxpayer has a K-1 with ordinary income of $1,356,547 and wages of $243,000. She is single and filing as head of household. Her business is direct sales, which qualifies as a qualified business. Does she qualify for the Qualified Business Income Deduction (QBID) since her income is above the phase-in amount of $207,500? If so, how much QBID is she entitled to, and does her high income affect her eligibility?
May 20th, 2023
I have an employee who lives in Maryland but works in Pennsylvania. We withhold Pennsylvania Income Tax from his check due to a reciprocal agreement between the states. What tax forms does he need to file for 2019?
April 23rd, 2023
I need to change my phone number. I tried to get a loan, but they require proof of my monthly income, and they say the phone number on file is not the one I currently have. What should I do?
April 19th, 2024
Do I need to file a tax return if I have $1,600 in interest, $2,100 in IRA withdrawal, $320 in capital gains from a mutual fund acquired in January 2020 for $5,000, and receive $25,600 in SSI, being over age 65 with no dependents?
May 22nd, 2023
My bank accidentally deposited pre-tax money into a Roth IRA. Will I be taxed now on that or taxed at retirement?
May 24th, 2023
Taxpayers who have lived in Florida for more than 10 years sold a two-family rental property in Brooklyn, NY in 2021. Is the gain from this sale subject to NYC tax, and if so, where does it get reported on which form? Specifically, is there a place on the NY-203 form for this?
June 21st, 2023