I have a client who, along with two siblings, sold a family home they were all on the deed for. Can they split the sale proceeds three ways on their tax return for the purpose of capital gain? If so, what is the limit for all three to claim? Additionally, how can I help determine the cost basis of the home if my client does not have receipts for major home improvements and is unsure of the original cost of the home?

September 12th, 2024

I mailed my 2017 tax return to the IRS in April and again in September 2020. I am a 62-year-old single filer with a gross income of $9,565 in 2017. I would like to know the status of my 2017 tax refund.

November 26th, 2023

Do I need a business license or seller's permit for dropshipping to the US if I have no physical presence, and is a business tax ID only required after reaching nexus?

December 24th, 2023

My business received between $30,000 and $50,000 in PPP funds. I have several questions regarding the tax implications, how to allocate the funds, and the forgiveness process: 1) Are PPP funds taxable even if used for allowable expenses, and how is the tax calculated for an S-corp? 2) Are non-converted PPP funds still taxable? 3) How much of the PPP funds can I pay myself as a 100% owner? 4) How much can I pay my wife, who is not an owner? 5) Can I pay my 7-year-old son who works in the family business? 6) How does the reduction in full-time employees affect PPP forgiveness? 7) Can 1099 compensated individuals be included in the forgiveness calculation?

July 26th, 2023

I sent my 2019 tax returns on February 2, 2020, and expected a refund. The return was sent to Austin, Texas, but since the pandemic, I haven't received anything. IRS.gov says they have no record of our return. What should I do to track my refund and understand why it hasn't been processed?

July 10th, 2024