asked
How can my wife and I securely plan for our final expenses, considering we are in our mid-sixties, on Social Security and a small pension, with no debt, good state retiree healthcare supplement to Medicare, and long-term care insurance? We are concerned about protecting our savings, specifically for burial expenses, from potential government claims during our final days. Should we consider prepaying funeral expenses, gifting our term life insurance policies to our children, or investing in interest/income-bearing assets? Additionally, how should we best assist our grandchildren with their education expenses?
October 19th, 2023
I have questions regarding the classification of income on my tax return for 2018. Specifically, I want to know if income from digital music sales, ASCAP, licensing, and SoundExchange (royalties) can be listed as passive income on my return, as it is not earned income. Additionally, I earn income from Airbnb and renting rooms in my home. Should this also be classified as passive income, not earned income?
December 1st, 2024
How can I request a letter from Social Security showing the monthly benefit for my mom? I am applying for Title XIX and I need a letter.
May 9th, 2024
What is the Pennsylvania SUI rate in 2013?
February 4th, 2024
I received a letter from the Alabama Department of Revenue stating I owe taxes from 2010. I was a resident of Washington State and worked in Cairo, Egypt for a company based in Alabama. The company informed me I wasn't required to pay Alabama state taxes since I didn't live or work there, and my tax liability was to my state of residence. Now, I have a bill that includes tax, penalties, and interest. What should I do?
February 10th, 2023
What are the proper accounting and tax practices for a shareholder loan (loan from the shareholder to the corporation) in the context of paying both payroll obligations and various expenses when the company did not have assets to cover them? How should these transactions be tracked in bookkeeping accounting entries, and how do they affect the corporation's current asset, expense, and liability balances? Additionally, how should these values be reflected in the 1120 end of year filing, particularly regarding the inclusion of amounts paid by the shareholder for payroll in the salaries and wages (line 13) of form 1120?
November 27th, 2024