I have been asked to fill out the ACRIS real estate tax forms for a married couple with two children. The father passed away in 2022 and owned a co-op in his name only. The wife wishes to transfer the co-op into her name. Does she become the grantor instead of the husband upon his death? What is considered the condition of transfer and details of consideration?

September 13th, 2023

I received approximately $1700 through my old business PayPal account, which is now labeled as 'goods and services' and will trigger a 1099-K due to a new law. The money was actually transferred from my personal account for personal savings, not for business purposes. The account has since been changed to personal and closed. How should I report this 1099-K on my taxes, and do I need to claim friends and family payments as income if they were made after the account became personal?

March 13th, 2023

Siblings own jointly properties under different LLCs or S corporations. How can they exchange or swap properties where each one will own 100% and be 100% owner of the business entity as well?

May 22nd, 2023

I am currently waiting on my employment authorization to work in the United States. I believe that my Social Security number and EIN will also be provided, once this has been received. I’m currently employed by a U.K. company, which I am a director. How would US social security payments be worked out?

May 29th, 2024

Where is the NYS NYC PTET deduction reported on the personal NYS state tax return?

July 26th, 2024