How can I deduct R&D expenses (travel and online services/software) incurred in 2014 for a business that will be formed and start operating in 2015?

March 26th, 2023

I retired in 2014 and receive pension and Social Security. I've never had taxes taken out of either. Should I be? I retired at age 62 and am now 65. I also received a 401K withdrawal, and the federal government is taking money out of my Social Security monthly for taxes. Is it normal to have taxes taken out of pension and Social Security, and do I need to file taxes going forward?

June 4th, 2023

Before 2018, my business was a joint venture between my wife and I, and we were depreciating some business assets (Laptop and monitor). For 2018, we changed the business to an S-corp. How do we treat the assets that we were depreciating for 2018 taxes, and how do I contribute the assets to the S-corp if they have already been partially depreciated?

February 3rd, 2023

My girlfriend and I purchased a house in Puerto Rico last spring, each with 50% ownership on the title. She has invested more cash in the house while I've done all the labor in remodeling it. We plan to rent the house when it's finished, and she wants to deduct the money she has invested as an income property. She's concerned that my name being on the house title could be a problem for this. I am not claiming any deductions on the property myself since it's been her money we are working with. Can she still make her full deductions she wants to make as long as I take no deductions on the property?

June 15th, 2023

I am filling out an Insolvency worksheet (Form 4681) for my taxes. It asks for 'Interest in a 401(k) account.' My 401(k) account is invested in stocks and doesn't have interest. What are they asking for?

April 16th, 2024