asked
As a sole proprietor, I had a large profit in the 4th quarter of 2015 that may require me to pay estimated taxes for the first time. Do I need to file estimated taxes by January 15, or can I file and pay my 1040 by April 15 to avoid penalties?
April 27th, 2024
By the end of 2017, I will owe about $100k in back taxes. The breakdown is as follows: 2013 - $15k, 2014 - $9k, 2015 - $30k, 2016 - $26k, and 2017 - $27k (estimate). Is there anything else important you think the Expert should know?
November 25th, 2024
I make $2,000 per month as a live-in caregiver, and I will receive a 1099 form for this income. I need to know how to pay my own Social Security/Medicare taxes and how to handle my income tax, including which forms to use and how to calculate the amounts. Additionally, if I am paying COBRA premiums through a past employer, can I deduct any of that?
May 2nd, 2023
A taxpayer wishes to claim insolvency to exclude cancelled debt income from taxation. He has an interest in an employment pension fund which he cannot access until a certain age. Does it count as an asset in the insolvency calculation?
October 12th, 2024
My mom passed away and she had an irrevocable trust. I am the trustee and need help with Form 593-C. I believe I am exempt. The property is being sold for less than its value at the time of her death. What are the tax implications and how should I proceed with the form?
November 11th, 2024
Someone is using my wife's social security number to work, resulting in an IRS tax bill of $15,150, with a demand to pay $3,590 on this income. The bill is not ours and we refuse to pay. We assume the IRS will seize our tax return. How do we fight this problem?
February 11th, 2024