asked
I am a retired New Yorker planning to relocate to Texas, Georgia, or Florida in 2016. I want to avoid paying New York State tax on IRA distributions used for a down payment on a new residence. How can I make this transition to avoid state tax on my IRA withdrawals?
July 7th, 2023
I have a timeshare that I bought in 2010 for $8,000. I am unfortunately preparing to sell it for a loss this year. What are my potential tax benefits from this? Can I claim it as a capital loss? What is a capital loss and how can it benefit me for my next tax return?
December 17th, 2023
My 90-year-old mother, a US citizen who has lived in Canada for the last 40 years, is about to die and will be leaving me a bank account with a six-figure balance. I've been a cosigner on this account for some time, and by Canadian law, this account is excluded from her legal estate - the ownership of the account will be mine at her death. What US IRS forms should her estate in Canada file if any? What forms do I file to account for the money when I transfer it here to the US after she dies, and then what forms to account for it on my annual tax return? My understanding is this amount (US $150K) should not trigger estate or gift taxes. Correct?
June 3rd, 2023
I need a suggestion for a specialist with a bank account to open for fundraising to help in Ukraine. I need a simple way for donors to send money via credit card (CC) and for me to make purchases without high APR. Is it possible to use a regular CC with a changed interest rate or no interest since the funds are for helping others? Are there any suggestions for a sort of preloaded funds card that can be spent with no interest charging?
January 18th, 2024
I am going to mediation for a divorce in Virginia. My spouse will remain in the primary residence for three years, and I will pay the mortgage in lieu of child support. Can I still claim the mortgage interest as a tax deduction, and how will the house be treated when it is sold? Additionally, can I claim all my children as dependents if I have them a third of the time?
June 3rd, 2024
Received this email from NJ? Is this legitimate? The email mentions the New Jersey Dept of Labor and Workforce Development and the U.S. Bureau of Labor Statistics (BLS) requesting verification of firm's address and main business activity through the Annual Refiling Survey (ARS). The email provides a link to a secure website and mentions a mandatory ARS in accordance with New Jersey Unemployment Compensation Law, Section 43:21-11 and is authorized by 29 U.S. Code, Section 2.
October 28th, 2024