I have an offer on my home to sell. If I agree to the purchase price, we will incur in excess of $250K in losses. Can that amount be deducted in any way against Federal & State income taxes in future years? Do I realize any tax benefit in this scenario?

June 29th, 2024

I have a question about rolling over my 401k from my former employer into a traditional IRA at Ameritrade. I have half of the money in a Wells Fargo ESOP fund and the other half in regular funds. I want to know the tax implications of rolling over the Wells Fargo ESOP fund and what the tax implications would be if I take distributions in a couple of years (I am 42 now).

June 9th, 2024

How do I calculate the tax due on the sale of a rental property that was bought in 2002 and sold this year?

March 22nd, 2023

My mother, a non-US resident living in Greece, is considering transferring $500,000 to my US resident account as a gift. Do either my mother or myself have to pay any taxes on the gift, either federal or state?

January 14th, 2024

I am starting a business that will require the use of federal tax credits, specifically the Federal Energy tax credits (ITC). The credits are 30% uncapped and can be used by both businesses and residential customers. We are implementing a lease program where customers assign these credits to us. How can we utilize these credits to generate cash flow for the business at the end of our tax year?

January 10th, 2024