asked
Corporation K distributed land used in its business to its shareholders in redemption of some of its outstanding stock. At the time of the distribution, the land had an adjusted basis to K of $200,000 and a fair market value of $500,000. Corporation K must recognize how much gain?
January 15th, 2024
I got divorced this year and was ordered to pay alimony in addition to paying off our three jointly held credit cards and her individual card. I know I can deduct the alimony, but can I deduct her half of the jointly held cards and the full amount of her card?
October 29th, 2023
How can I prove that a part-time CPA, who has several other clients and spends 6-10 hours per month overseeing the creation of our monthly financial statements, is an independent contractor?
March 28th, 2024
If I buy a lottery ticket in Wyoming and live in Colorado, do I have to pay Colorado state taxes on my lottery winnings?
February 17th, 2024
Is there anything I have to do or paperwork to fill out to transfer $32,000 from the Trust in Mom and I's names to my bank account and the same thing for my brother? Do we just move the money, or do I have to notify anyone else besides Mass Health?
August 28th, 2023
On Form 1065 Schedule B, question 16: Does the partnership have any foreign partners? If 'Yes,' enter the number of Forms 8805, Foreign Partner’s Information Statement of Section 1446 Withholding Tax, filed for. Since I am a foreign partner, how should I answer this question if my LLC didn't make any revenue in 2017?
October 17th, 2023