asked
I bought my home in December 2004 for $388,000 and want to sell it now for approximately $525,000. Since I've lived in the home for less than two years, what will the capital gains rates be and on what amount? Is there a different rate for the first year versus the beginning of the second year of ownership?
September 30th, 2024
My wife and her sister inherited property in Greece and have been paying Greek taxes on the property. If the property is sold for 450,000 Euro and the money is deposited in a Greek bank, what are the problems and limitations associated with electronically transferring over $10,000 in funds to a US bank and what would be the US Tax liability? Specifically, I would like to know my options and how best to avoid paying US taxes.
December 26th, 2023
What does the IRS allow per book for the donation of paperback and hardback books? I have a number of paperbacks and a few hardback books I would like to donate if I can get an allowance for the donation.
July 27th, 2024
I hired a third party to prepare my taxes, but I can't contact them and haven't received my tax return. What should I do?
July 18th, 2024
I am set to inherit $22,000.00, which I need to split 50%-50% with my brother. The money will be taxable for the 2015 tax year. Should the bank issuing the inheritance checks make 4 checks for $5,500.00 each or 2 checks for $11,000.00 each? How much should we set aside for both state and federal taxes?
February 2nd, 2023
Can legally married gay couples, including those recognized as domestic partners, file a Married Filing Jointly tax return?
June 8th, 2023