I am taking a FED lump sum TSP Payout. I lived in CA from Jan 1 to Aug 18 and transferred my driver's license to Tennessee on Sep 7. Will I have to pay CA state income tax on the TSP payout for the 8 months I lived in CA, or will there be no state tax since there is none in TN where I am now? If there is a tax due to these 8 months in CA, can I avoid any CA tax by waiting until after Jan 1, 2024?

July 11th, 2024

If I give my employees wage increases, how will that affect me financially from a social security contribution standpoint? Will I have to pay more into their social security, and if so, by how much?

December 24th, 2024

Can you shed light on the "Investment method of Accounting" being applied to a life insurance policy on the life of a key officer in a HOA, and what would be the likely adjusting journal entries that should have been made when the officer retired? Also, weigh in on whether this accounting treatment is appropriate and address concerns about transparency and governance within the HOA.

March 31st, 2024

I am working on a Form 706, Estate Tax Return for a decedent who owned a second home in Maryland. The Maryland home is going through the Probate process, and the Maryland Probate attorney indicated that Maryland uses the value from the Town's Assessor rather than appraisals. Is it acceptable to use this assessed value on a Form 706 and the RI-706, or should I obtain an appraisal to determine the fair market value?

March 21st, 2024

I need a copy of my "Award Letter from Social Security". Have you previously received an Award Letter from them? Are you looking for a physical copy of the letter or would a digital copy suffice? Is there anything else the Accountant should know before I connect you?

August 19th, 2023