How do I figure out how much of my Social Security benefits will be taxed, given that I am a widower with a gross income of $45,000 and $9,720 from Social Security?

June 23rd, 2024

Is it possible to get a list of property taxes paid in 2010-11-12-13 to John Donofrio by my uncle who passed away? I am in Ohio and have a check register for some of these payments, but I have been unable to get copies from the bank. The house is under foreclosure, and I am making payments to FIG to keep the property. I know these taxes are paid because I wrote the checks for him.

October 24th, 2024

I am a non-immigrant living in Jamaica and want to apply for a US credit card. I was told that I would need an ITIN. Is it an easy process to apply for one?

September 6th, 2024

I am thinking of selling shares of Fidelity Magellan Fund at a loss to offset other capital gains. I want to use the proceeds from the sale to immediately purchase shares in an S&P 500 index fund. I do not want to wait 30 days before reinvesting the proceeds. Is an S&P 500 Index Fund different enough from the Magellan Fund so that I will be able to claim the loss and avoid the wash sale limitations?

September 29th, 2024

I am completing a 1031 exchange with two replacement properties, each purchased under a new LLC name. The 1031 exchange professionals warn that I may need to use the company name of the relinquished property. I consulted an attorney who said it doesn't matter, but I want to confirm for tax purposes if it's okay to use different LLC names as the purchaser, given that I am the sole owner of all LLCs and they are disregarded entities. Additionally, one of the LLCs is an S-corp. How does this affect the process, and what steps should I take to ensure compliance and avoid tax consequences?

May 29th, 2023