Where should I report the amount paid on the beneficiary's behalf from the principal on the beneficiary's K-1, and how should I indicate that it is not taxable to the beneficiary?

February 28th, 2023

I have a wholly owned California corporation that is no longer active but has funds. When I take distributions from this corporation in the form of dividends, are they qualified dividends or ordinary dividends?

August 24th, 2024

I need a CPA. What is your question?

May 21st, 2024

Can I list my wife on my 2016 federal tax returns? I brought her to the USA legally under a K1 visa, and married her in 2016. She just received her work authorization and social security number in 2017. She had no wages or income in 2016. She does not have a green card yet. Is there any reason why I can't include her on my 2016 tax returns? Please explain.

March 5th, 2024

I am transitioning from filing married jointly to filing married separately with two separate addresses. I need to know how to report our income, given that Wisconsin is a community property state. My husband is semi-retired with two businesses, one of which is an LLC where he is the sole member, and he made approximately $96,000 with a profit of $18,000 after expenses. He also has a small farm with a loss. I only made $1,000 from his business. How should we report our income and deductions?

October 30th, 2024