asked
I am a Texas resident working for a company in Louisiana. Since March due to Covid, I am having Louisiana taxes taken out of my check, even though I am in Texas 100% of the time. Should they be continuing to take out Louisiana state tax?
August 9th, 2024
I currently own a 23-year old long-term stock investment fund that specializes in value investing, but now I’m looking to branch into quant trading because things have slowed down. I understand that quant funds find anomalies in the market with historical data and models and exploit them. However, I’m trying to understand if these anomalies are very specific or very simple. I’m finding strategies that worked for a long time, but they are extremely specific to every exact number like leverage, position size, time interval, correlations, and so many other factors making the strategy so particular. Is that a bad thing? Or no matter how specific the strategy is, it’s good as long as it worked over time? And perhaps better when more specific so it’s harder for competitors to find? So the main question is: Do these funds generally find very complicated anomalies that are hard to find, or they need to be as simple as possible to make them less random?
April 1st, 2024
I received a CP22A notice from the IRS for changes to a 2017 Form 1040 for $5019.11. I did not file a 1040 or 1120, and my 2017 files were stolen from my home. I am unable to reach the IRS by phone. What should I do?
April 2nd, 2024
I paid income tax on Schedule D in 2017 and was sued by the buyers in 2020. I paid about 60% back in lawyer fees and the lawsuit settlement. How do I deduct this in my 2020 tax return?
May 5th, 2023
I am selling a home that was my father's, who passed away, and I am the beneficiary of the TOD deed. I am selling the home to distribute gains to my brothers. There will be no gain on the sale, and it will be appraised at the selling price. Do I have to pay the 3 1/3% FTB California tax or should I submit a 593-C form?
October 13th, 2023
I'm selling a house that is in a trust, which was my grandmother's (the grantor) and has been our primary residence since 2012. My wife is the trustee, and I am the beneficiary. I want to take advantage of the capital gains exclusion for the sale of this home under $500K. Should my wife quitclaim deed the house to me before the sale to avoid capital gains tax, or can she sell it as the trustee and pass the profit to me as the beneficiary? What are the tax implications for both scenarios?
July 30th, 2024