When do you mail out W-2 forms, and can I get a W-2 online if I am retired?

August 21st, 2024

Several years ago, I was supposed to claim my settlement from my divorce on my taxes and did not do it correctly. The IRS automatically revised my tax return and gave me a liability of about $30,000, which is now $40,000 with interest and penalties. I make a decent living but have significant expenses. Is there anything I can do to get out from under this debt without paying a lawyer thousands of dollars?

April 22nd, 2023

I am starting a farm business in Colorado as a sole proprietorship LLC. In 2023, my first year, I spent $30,000 on infrastructure and operations without making any money. Can I write off this $30,000 as a loss on my personal taxes, and how should I classify these expenses to avoid scrutiny from the IRS?

April 20th, 2024

I am a US citizen filing jointly with my wife. In 2007, I purchased a property with another person who is not my wife, but the property was under her control. I was recently notified that she wants to sell the property, and because my name is on the title, I will receive part of the proceeds. Will I have to report this on Form 8949, and do I need to complete Form 8938 for specified foreign financial assets?

August 14th, 2023

Do you have to pay the state sales tax on unpaid invoices? We invoice our customers upfront for furniture and don't order the furniture until the customer has paid. So no actual cash or goods have exchanged hands.

July 10th, 2024