My wife and I have been living apart for over 2 years and our divorce will finalize this year. I have a salaried job, and she lives off her savings and investments. She has a personal business with no income yet. I want to file Married Filing Jointly (MFJ), but she wants me to file Married Filing Separately (MFS) because she wants to carry her capital losses from 2015 over to future years. If we file MFJ, will her ability to carry over her capital losses be affected, or can I apply my capital losses to our taxes for 2015 and leave hers alone for the future?

November 22nd, 2023

Is there a cost to this service? I have a quick question on my income tax return for 2015. I prepared my tax return and found I need to pay about $1000. My home interest deduction was down by $800, and I didn't contribute as much to my 401k as I could have. Is it too late to put funds into an IRA or another tax shelter?

July 24th, 2023

Are my French pensions or retirement income considered as income in the US and must be declared to the IRS?

October 12th, 2023

For the tax year 2015, I am an LLC and would like to be taxed as an S Corp. Can I file Form 2253 by Feb 15, 2016 and be treated as an S Corp for the tax year 2015? Or, the election will only be going forward (in other words, for the tax year 2016)?

February 23rd, 2023

My mother passed away in March 2015. My brother, mother's estate, and I sold a property we all owned for $195,000. I owned my 1/3 share of the property before my mother's death, which I received through a 'forgiveness loan'. Do I still have to pay capital gains taxes on the 1/3 of the money I received?

November 8th, 2023