I am a nanny for my sister and brother-in-law since August 2018. They did not withhold any taxes from my pay. I need to file taxes for 2018 and understand whether I should obtain a W2 from them or file a 1099 as self-employed. Can you help clarify what I need from them to file taxes correctly?
July 16th, 2024
I received a notice from the IRS to fill out Form 8962. I am unsure where to place the information from my 1095-C to show that insurance payments were made, which would reduce the amount I normally have to pay. I have a family of 3 (head of household) and a child who paid 2 months of Marketplace insurance. I am filing for tax year 2018. Should I be using a 1095-A instead of a 1095-C, and if so, would there be one for government insurance with the Army?
November 12th, 2023
I received a 1099-S Form for the sale of a family home where I had a life estate interest. My brother, who had a life estate, passed away, and the property was sold, with funds disbursed to his estate and my sister and me. Is the sale amount taxable, and how do I handle this on my tax return?
December 1st, 2024
What are the tax benefits of owning investment rental properties, and how can setting up an LLC for these properties affect tax deductions?
March 3rd, 2024
Where on the 1040 should I report the inheritance I received from my deceased father for tax year 2018, as the estate manager said I would have to pay tax and it was my responsibility?
November 9th, 2024
How should I advise my client, who is a shareholder in an S-Corp with multiple owners, on the timing and amount of distributions to avoid disproportionate distributions and maintain accurate shareholder basis, while ensuring compliance with IRS rules regarding S-Corp distributions?
October 17th, 2024