asked
I am a dual citizen of the US and Canada and moved from Canada to the US in early 2022. I was still making income from Canadian entities as a consultant/contractor throughout 2022, and I was also making US income. How should I go about filing both US and Canadian tax returns, and what are the specific requirements and deadlines for each?
February 2nd, 2023
I received a 1099-C for forgiven debt and may receive two more. I am wondering if I can claim insolvency, as I had more debts than assets. If not, how much am I expecting to owe the IRS? I filed my taxes via FreeTaxUSA for 2021 and 2022.
June 21st, 2024
I rented out my home on Airbnb and had a tenant stay for 8 months, using all my linens, dishes, toiletries, and WIFI. I have 4 properties for Airbnb and want to know if this rental should be reported on Schedule C or Schedule E for tax purposes, especially since the tenant stayed longer than 30 days.
November 9th, 2023
Do I need a copy of my 2021 tax form to file my tax? If I don't have it, can I get a copy from the IRS?
June 14th, 2023
My identity was stolen, and I need an IP PIN to file my taxes. My online account was suspended, and I don't remember my username and password. How can I get a new IP PIN and resolve my account suspension?
August 1st, 2023
We are married and run an Airbnb property management business together, owning an S-Corp in California that splits everything 50/50. We want to create an LLC to own the house we rent out for legal asset protection. Currently, the house is solely in William's name due to city regulations, but the mortgage is under both our names. We want to know if the LLC must pay the mortgage and property taxes to remain legally viable and if there are tax advantages to running expenses through the LLC instead of the S-Corp. Additionally, we are concerned about the legal implications if someone sues us for an injury on the property, especially if the LLC doesn't handle mortgage payments or property taxes.
July 13th, 2024