A friend did not file his 2015 taxes and owed $800-$1,000. He just filed his 2016 taxes and is supposed to get a refund of $2,500. Will his 2016 refund be offset due to his unfiled 2015 taxes?

January 22nd, 2023

I (male) and my partner (female) have two children together and live together in the house that I own. How can we structure our living arrangement so that we can each claim one child and also file as Head of Household?

November 4th, 2023

Crops were damaged during the construction of new telephone service. Also, should we send a 1099 to a person who prepares lunch for special meetings for us? The payment includes amounts for food and for preparation and delivery. It is not a 'business' as we are the only ones she does this for.

July 3rd, 2023

How is the passive gain allocated among the passive loss carryovers after being applied to the passive loss carryover of the sold asset that gave rise to the current passive gain? Is it allocated based on the ratio of remaining passive losses of each property to the total of the passive loss carryovers, or based on respective FMVs?

January 13th, 2024

If I traded on IG markets (CFDs) to see if I could get additional income prior to retiring and made a loss, can I claim that on this year's tax return? I made a loss and most likely will not continue as a Sole Trader.

July 1st, 2023