We have a $6,000 energy credit due to my daughter and me, who are both on the title, but we don’t have a lot of federal taxes taken out. Can someone else, my ex-husband, claim this credit on his tax return?

April 15th, 2023

I have a recently established LLC in late 2017 with no income or debt. I opened a bank account under the LLC and have rental deposits going in, but the properties are still under my personal name, not the LLC. Do I have any tax filing obligations for 2017, and could the rental deposits in the LLC bank account cause any potential tax issues?

June 26th, 2024

I have custody of my grandson. When I filed my taxes, I was told someone else has claimed him as a dependent. His father is dead and his mother has not filed taxes. What should I do to correct this?

December 6th, 2023

I was reviewing my tax returns from previous years and noticed that I was subject to foreign tax paid in 2013 and 2014, which resulted in a carry forward of the credit. In 2016, the accountant took an additional $4000 as a foreign tax credit despite no foreign income. Now, I am doing my tax return with TurboTax on my own and wondering if I could utilize any of the foreign tax credit carry forward from 2013 and 2014, given that I had no foreign income in 2016 or 2017. Do you think the accountant made a mistake in taking a credit? Are there any circumstances that allow you to take a credit if you have no foreign income when you have a carryover from a prior year?

April 14th, 2023

As a business owner and owner/shareholder of an S-corporation, can I deduct the $43,000 education expense incurred in 2017 for pursuing an MBA, which is essential for growing my business, as a business expense on my business taxes, and not on my personal taxes?

March 27th, 2024