My husband and I just got married in September 2006. Do we have to file our taxes jointly, or can we file separately? I don't have my ID or my new Social Security card yet. I also have a 6-year-old son from a previous marriage. Can I still get the tax credit for him? We would like to file separately, but are wondering if we can or not.

November 8th, 2024

How do I report and pay accelerated FICA taxes on a Supplemental Executive Retirement Plan when we are not making a distribution yet, only wanting to pre-pay the FICA taxes, and need to handle this tax payment through our payroll system or report it with our tax payment since we will simply be increasing the social security and medicare wages for the tax payment but not the gross wages?

May 14th, 2024

How do I report income from subletting office space on my tax return if I file a Schedule C as a sole proprietor?

September 29th, 2023

If someone receives an inheritance under a trust from an aunt and puts the money in a joint savings or money market account with their daughter, and the mother later passes away, are there any inheritance taxes to pay on the money?

June 6th, 2023

I work for a large company in NJ. My W-2 shows the same amount for federal and state earned income, despite having cafeteria benefit deductions taken from my salary. I believe my NJ state earned income should be higher than my federal earned income. What simple deductions are excluded from NJ earned income versus federal earned income, considering this is a company-prepared W-2 and no capital gains or stocks sold are involved?

April 21st, 2024