asked
Can a client use his girlfriend's car for business and claim expenses despite the car being owned by his girlfriend? Additionally, can he deduct telephone bills that are under his girlfriend's name if they are for business purposes?
October 21st, 2024
I received a death payout from Conseco Insurance Company from an insurance policy my late husband took out. Conseco dated the check Jan 1 2009, but sent me a 1099-R form dated 2008. I was told the 1099 had to be dated 2008 because the processing took place Dec 27th 2008, even though the check was dated Jan 1 2009 and received in 2009. Do I amend my 2008 return, or do I report this on my 2009 return and accompany it with a letter to the IRS showing a copy of the check along with the 2008 1099? Additionally, I want to write to the person in charge of client services at Conseco but do not know who it is. Please advise.
September 20th, 2023
I received a $10,000 relocation lump sum in February 2018 while still a resident of ND, but my company paid state taxes for the lump sum to CA even though I moved from ND to CA in March. Is this a mistake, or is this how it works?
June 11th, 2024
Is there a tax advantage to taking a guaranteed payment to reduce tax to 7% as a salary?
October 10th, 2023
I live with my parents and have earned income (21,000 a year) and a child living with me. Do I qualify for the Earned Income Credit (EIC)? I thought I read that if you do not provide the home for your child, you cannot qualify for EIC. My child and I live with my parents. I earn 21,000 a year. I claim my child as my dependent on my tax return. Am I also entitled to EIC? My thought was that since I am not providing a home for my child, I would not be eligible for it. I do spend my money for clothes, food, etc., for me and my child. Basically, all my parents provide is shelter.
April 19th, 2023
I live in Ohio and need advice on reporting offshore gambling winnings. The site does not report to the IRS, so I will be reporting myself. I am not a professional gambler and need to know how to report my winnings and losses. Total Losses = $-12,224.92, Total Winnings = $61,687.36, Net Win/Loss = $49,462.44. I also need to know if I need to report to Ohio State tax and an estimated amount of what I will owe when I file in the spring (both federal and state).
April 25th, 2023