If you are working overseas for several months while maintaining a residence in the United States, is your overseas income taxable? Please provide some guidance.

November 24th, 2023

I am trying to figure out what my tax bill will be for 2018. I want to make sure enough is being deducted from my paycheck and my wife's paycheck. My income is $225,000, married with one child in college, mortgage interest of $17,600, and no other significant deductions or income. How much should be withheld from our paychecks to avoid a large tax bill at the end of the year?

May 24th, 2023

A W2 shows $190,000 coded 12b V. Gross wages in block 1 is $900,000. When I do the 1040, do I ignore the $190,000 and report only the $900,000 on my Form 1040?

August 5th, 2024

If a senior couple were to have a significant gain on the sale of their home but were to roll it into the purchase of a new home, would they have to pay gains? The original purchase price was $300k, the sale price is $2.5m, and they will be purchasing a new home for roughly $2m. Additionally, can they carry over their original property tax based on the $300k purchase price despite the sale price of $2.5m and the new purchase price of $2m?

May 28th, 2024

How do capital gains regulations work for investments, particularly in terms of calculating holding periods and gains for assets like stocks and collectibles, especially when multiple purchases are made at different times?

June 2nd, 2023