asked
As a 100% owner of a C corporation, if you personally guarantee a floor plan loan for inventory and subsequently have to pay the guarantee after the corporation fails, is that considered a business bad debt? Is the taxpayer's trade or business the C corporation?
March 9th, 2023
I am traveling for business in a foreign country. To be able to deduct the cost of travel, what percentage of the hotel stay is deductible and what receipts or support need to be shown? As an alternative, if I rent an apartment, my understanding is that only the percentage of the apartment used for business is deductible, correct?
June 16th, 2024
Is there a statute of limitations on the State of Maryland to collect past state income taxes?
January 11th, 2023
My wife and I own a condo in Atlanta and a house in Michigan. Our oldest daughter lives full-time in the Atlanta condo and is our dependent. We have two other daughters in Michigan, one in college and one in high school. Can we file taxes separately, with my wife claiming the Atlanta condo and our oldest daughter on her tax return, and both claiming residency in Atlanta for homestead exemption and in-state tuition? I would then claim the Michigan property and our other two daughters. Is this scenario possible?
July 25th, 2024
Is it legal for US residents (permanent green card holders) to invest in HYIP programs that are for worldwide investors and are founded offshore in the UK on the internet? Additionally, what tax form should be submitted to the IRS for reporting such investments, especially if filing a joint tax return with a spouse who owns a local firm?
April 8th, 2024
I need a copy of my 2011 North Carolina Tax Return to send to the N.C. Dept. of Revenue. My original copy was sent to them in February, 2012, but it was an amended copy that had been corrected. The N.C. Dept. of Revenue requires a copy of the original document, along with the amended copy. I have a refund of $1345.00 due. Can you help me get a copy of the Original, not the Amended Return?
October 1st, 2024