I am 60 years old and plan to retire next year, taking a lump sum payment of $375,000. How much tax would I have to pay on that money, and would my pension of $36,000 help move me into a lower tax bracket?

January 14th, 2023

I will be receiving royalty income of estimated $200,000+ per year in US Dollars from a US company. What is the best corporate structure to receive and disperse this royalty income from a tax standpoint?

March 21st, 2023

I have withdrawn from the Colonial Management Fund and incurred a loss. How can I include this loss in my Australia 2011 tax return? I believe I should put it in question 18 of the supplement tax pack since I no longer have any capital gains.

July 7th, 2024

I bought professional development courses that include coaching and books/software. How do I deduct these on my Schedule C? Should they be categorized under professional fees due to the coaching element or under supplies because the software is depreciable? Additionally, do all books, software, and equipment depreciate at the same rate, and how do I determine the depreciation rate for each?

June 6th, 2024

I have a loan from my 401k retirement plan that I am making monthly payments on. I want to take the loan balance as a partial distribution this calendar year to avoid the tax liability being pushed into next year. The plan experts said that if I default on the payments for 90 days, the loan balance will automatically become a partial distribution with associated tax liability. However, I do not want to wait 90 days or take a full distribution and roll over the balance into another plan. How do I get the tax liability into this year?

November 29th, 2023