A client wants to take money out of a surrender charge-free large annuity and set up 5 annuities, each worth $120,000, for his 5 grown children. He will pay taxes on the gain but wants to know if there will be additional taxes for his children if he transfers $120,000 into their names. If the children do not touch the annuities, will there be a tax consequence for them?

September 20th, 2023

How can I have my son, who is a dual citizen of the USA and Sweden, as a beneficiary on my IRA, and what are the tax implications and mechanics involved?

October 26th, 2024

I have full legal and physical custody of my son, and his father is asking for my son's SSN so he can use it to file his taxes. I have already claimed my son on my tax filing for 2011 as his father is not caught up on his child support. Is there a valid reason he would need my son's SSN for his taxes, and if he does claim my son on his taxes, would I have any problems with the IRS as I have claimed him already?

November 19th, 2023

I forgot to include a W2 for 2018 on my 1040, and I'm now amending it. I originally filed through you. How should I proceed with the amendment?

July 21st, 2023

I'm filling out the deductions portion of the 1120-S return for 2018. All per diem payments to employees showed up under reimbursements on the profit and loss statement. What should I place these under?

May 6th, 2024