I have a client who is an artist involved in film production and publishing. She has produced real works of art and made some income, but hasn't made a profit in 3 out of the last 5 years. Is there a way for her to continue claiming Schedule C deductions on her work?

May 13th, 2024

I filed 2013 taxes jointly with my husband. He received a refund from the IRS for our 2013 jointly filed taxes. My husband filed for divorce in 2014 and the case is still ongoing. Now, he wants to amend his 2013 taxes as he left out some income. Can I get innocent spouse relief for this as I was not aware of that income at the time of filing? I found out about it only during the divorce process. I don't want to sign the 2013 amendments now and be held liable for income I did not know.

February 26th, 2024

I moved to California on July 4, 2014 and sold some stocks between July 4 and December 31, 2014. For state income tax filing, is the basis of the stocks sold the value on July 4, 2014, or is the basis whatever the values were on the original entry dates?

March 5th, 2024

What are the tax consequences when one of the owners has been taking a draw from the business and then quits the business before it's become profitable?

June 18th, 2023

If my mother, who lives with me and draws social security, starts paying me a small amount of rent to help with the bills, do I have to report that as income on my taxes?

December 9th, 2023