How can I avoid paying capital gains taxes when I sell my house, especially since I am disabled and currently live in an apartment? Can I use the house as my personal residence, or should I invest the money in another property?

May 17th, 2024

I owned an S corporation in Michigan that shut down and no longer exists in the state. I received a bill for taxes due from 2009 - long after the corporation was closed. Taxes were paid at the time of the return, but the state said that after reviewing the return, there is a balance due. I had a tax firm complete the tax returns. The company is no longer in operation. As the sole officer, am I responsible for the state of Michigan tax debt?

July 5th, 2023

A residential home owned jointly by children and a parent is pending sale after the parent's death. The home was acquired in 1993 for $1.00 after the parent's illness. None of the children lived in the home for the required amount of time needed for exclusion of capital gains. What are the tax consequences on selling the home, and is there a way to exclude the capital gain tax?

December 27th, 2024

If I had two dependents on my tax papers, but I was unable to claim them on my tax return, what would happen?

October 20th, 2023

My employer gave me my W-2 form early. When can I file my tax return and what are the processing times for both mail and electronic filing?

March 24th, 2023