asked
I am selling my home in California and will make a profit of $100,000-$120,000. My husband and I have poor credit, so we plan to go on the title of a home my dad will purchase in North Carolina and refinance when our credit improves. We will give my dad $50,000 as a down payment. Are there gift taxes involved, and will the profit from the home sale affect our taxes negatively? What is our best tax strategy?
April 14th, 2023
I know I am getting money back on my income taxes, but what if I lost them or I don't file them? What will happen?
June 13th, 2024
Our grandfather passed away in January 2006 and left a trust to three brothers with stocks totaling $6.5 million. We just filed the necessary documents with the government. How long does the government typically take to process such filings so we can receive our inheritance?
March 5th, 2023
I am employed in sales and work from home. I want to contract (1099) with someone for 10-15 hours a week to do phone calls, set appointments, and complete some weekly reports. This will allow me to be in the field more. Can I deduct the cost of what I have to pay to this contractor on my personal tax returns?
January 15th, 2024
I am receiving money from my grandmother in England. If she passes away within seven years of gifting the money, do I have to pay taxes in the UK on the amount gifted?
February 29th, 2024
Does the donee pay income taxes on gifts of $10,000 or less?
September 30th, 2023