asked
How should the basis of a home (50/50 personal/business use) be adjusted for a flood-related casualty loss, improvements made as a condition of sale, and how to report the sale considering the mixed-use status and depreciation? Additionally, what should be considered regarding advertising expenses incurred during the sale process?
October 14th, 2024
I am a volunteer for a non-profit organization and also serve as the Secretary/Treasurer, performing accounting and secretarial work among other tasks. Since I do similar work at my paid job, can I take a tax deduction for the time and services I provide to the non-profit?
August 6th, 2024
I need to make my quarterly payment on September 15, 2017, but I don't have the form to send with it. My tax person, HR Block, did not include it when my tax was completed for this year. I know how much I need to send. What should I do?
May 12th, 2024
I have a savings bond account with approximately $80,000 in undeclared interest, with 30 bonds maturing in 2030, resulting in a tax bill of $43,000 for accumulated interest. I will be 70 1/2 next year and will start making mandatory withdrawals from my IRA, which will be $14,000 next year. What should I do regarding these financial obligations and potential tax implications?
February 7th, 2024
As a sole proprietor, I had a large profit in the 4th quarter of 2015 that may require me to pay estimated taxes for the first time. Do I need to file estimated taxes by January 15, or can I file and pay my 1040 by April 15 to avoid penalties?
April 27th, 2024
By the end of 2017, I will owe about $100k in back taxes. The breakdown is as follows: 2013 - $15k, 2014 - $9k, 2015 - $30k, 2016 - $26k, and 2017 - $27k (estimate). Is there anything else important you think the Expert should know?
November 25th, 2024