What are the income tax rules when a taxpayer assigns income to another taxpayer for personal services rendered, such as a baseball player assigning a portion of his income to his children?

January 21st, 2024

For year 2006, can I deduct mortgage interest if I am on the deed for the home but not on the mortgage loan?

June 2nd, 2023

Does adding extra notes make payoff faster?

October 4th, 2024

If I withdraw $17,000 from my wife's IRA, which would total $17,000 for this year, would I pay capital gains or any other penalties on all or any portion of that withdrawal? We live on Social Security and I get $1,000 per year pension. We live in Florida.

March 12th, 2024

I only worked two months out of the year and am a full-time student. I received financial aid and $7,000 in student loan money. I have two children in private school and receive $300 a month from public assistance. Should I file taxes, and will I need tax information to file for financial aid for 2007?

June 13th, 2023