My pension is only 4600.00 per year. If I take a standard deduction of 13,000.00 for the 2018 tax year, will I have to pay taxes on the pension?

October 3rd, 2023

I bought a rental property ten years ago for $250K, and now I plan to sell it for $550K. I have been suggested a method to avoid capital gains tax by predating documents to show a higher purchase price of $600K and creating a second mortgage for $350K in favor of the original seller (Mary). Is this method acceptable to the IRS, and how does it affect my capital gains tax calculation?

December 16th, 2023

If I live in Arizona, work in California, and my spouse lives and works in Arizona, do we have to pay taxes on the total income earned as a married couple to California state, or just on the income earned by one spouse in California? What if one spouse had to be declared a resident because they lived and worked in California and didn't meet the criteria of being a non-resident? Would California tax liability be all income earned as a married couple even though one still lived and worked in Arizona? Would we have to file separately for Federal and State?

June 24th, 2023

My ex wants me to claim on my taxes the money he sent to the college for our daughter's tuition. I claim her on my taxes. He wants me to list it on my return and then give him half of the refund that I get because of the deduction. He also wants me to amend my last year's taxes to include last year's money. I am worried about this kind of thing.

March 26th, 2024

When filing tax returns, if a different social security number (SSN) is entered than the one on the W-2, will the tax returns still be successfully processed by the IRS, and what should be done if an employee's SSN on payroll differs from the one on their 401k account?

April 13th, 2024