I moved out of NYS in 2017. I have commissions earned from insurance clients that I care for in NYS but I do it all from NC. Therefore, do I need to file a Non-Resident NYS income tax return?

October 21st, 2024

If I donate my property to Habitat for Humanity, what amount can I deduct from my taxes? The cost basis or the market value?

November 9th, 2024

Trying to figure out how to file my 1099-K, as hobby income or a business. I received PayPal payments and need guidance on determining the nature of the activity for tax purposes.

September 23rd, 2024

My client converted a rental property into their personal residence after 5 years of renting. They have taken $55,713 in depreciation. Do they pay the depreciation recapture tax now, when they convert the property, or only when they eventually sell it? Additionally, can they claim repair expenses on their Schedule E or 4562 after converting the property to their primary residence?

October 12th, 2024

I had an overpayment of WA state unemployment that is included in a Chapter 13 bankruptcy filed in June. It is being paid monthly by the Chapter 13 trustee. Do I need to include this overpayment in my 2017 tax return itemized section since it is included in the Chapter 13 bankruptcy? My bankruptcy lawyer says no, but I should check with a tax expert. How do I calculate the taxes for WA out of the overpayment and deduct the payments made during this year and the following years until it is paid off?

February 23rd, 2024