Is receiving a wire money transfer from my overseas bank account tax deductible? Do I have to report it and pay tax on it even if it was an inheritance from my parents and has been sitting in my overseas bank account for over 5 years?

June 2nd, 2023

I have clients with ITIN numbers instead of SSNs. My software enters tax information on Form 1040. Should Form 1040NR be attached to this return? The clients have lived in the US for 2 years but have not applied for citizenship. How do I determine if they are resident or nonresident aliens for tax purposes?

May 17th, 2023

What is the typical process for winding up a Canadian-controlled private corporation (CCPC) and distributing its funds to beneficiaries after the sole shareholder's death, given that the corporation only has short-term investments and a contributed surplus from which dividends have been issued?

November 8th, 2024

I have a rental property that produced losses for several years in a row, and I could not write off these losses from my taxes due to tax limitations. This year, I have a profit on this property. Will this profit be reduced by the previous years' losses?

June 7th, 2024

I need to get an identity protection PIN. Where am I currently located? How old am I? Do I have any dependents? What is my typical filing status? What was my income this year? Is there anything else the Accountant should know before connecting?

October 22nd, 2023