Can a 75-year-old client with $700,000 in a traditional IRA, who is still working full-time and making $100k per year, selectively transfer stocks from a traditional to a Roth IRA? If so, how would this be taxed, and can he choose to transfer stocks that have lost money or have nominal gains?

December 25th, 2024

My husband is a truck driver who leases his truck and receives a 1099 each year. We filed our taxes and received a refund but were not asked to pay taxes. What does this mean?

October 26th, 2024

When can I expect to receive my tax refund?

March 1st, 2023

I have a tax balance due of $4,342 with the IRS and made an installment agreement for $70 per month starting April 11. However, the IRS did not debit my account for the May 11 payment. I made another installment agreement for $200 on Friday. Will there be any penalties if I pay off the remaining balance before 180 days? Additionally, why do I owe taxes to the state of Pennsylvania every time I file, and how can I adjust my W2 withholdings to avoid this? Lastly, if I file my federal taxes through TurboTax, do I still need to file local taxes separately?

March 1st, 2023

I was advised by social security to inform you that I do not want my social security check affected at this time. I was born in 1948 and am retired. My primary sources of income are teacher retirement and social security. Is there anything else the accountant should know before connecting me?

November 14th, 2023