I live in North Ridgeville, Ohio, and have not paid income tax since 1989. Now, they are wanting me to pay. Can they go back to 1990 and current year and collect all that, or can they only go back so many years?

July 8th, 2023

How do I determine the fair market value (FMV) loss to my house caused by a flood that destroyed a recently finished and furnished basement, and how do I estimate the loss for the contents of the basement if the insurance company has not yet offered a reimbursement figure? Additionally, will the IRS accept the FMV assigned to the contents by my adjustor, and how should I handle the casualty loss on my tax return if the amount exceeds my total income for the year?

December 26th, 2024

I'm forming a new company and looking for advice regarding what would be more beneficial for my tax status, S-corp or other, and why? (Single Member LLC)

September 3rd, 2024

When claiming Educational Credits, how should I handle discrepancies between the amount billed on a 1098T form and the actual amount paid, especially when payments are made by a bank on my behalf and there are refunds involved?

April 7th, 2023

Can an individual (who is not a farmer) use income averaging on his individual return when his S-Corp has had a big increase in profit?

January 29th, 2024