How do I report business fraud to the IRS?

July 6th, 2023

I'm filing my family's 2020 Federal return, which is fairly simple with mostly earned income and a standard deduction. My wife runs a small nonprofit school that uses a boat for marine biology education. We formed an LLC to hold title to the boat, which charges a lease payment to the nonprofit. The LLC had $12k income but also $12k in loan payments. Do I need to file a Schedule C for the LLC, and how should I handle the depreciation of the boat, considering the CARES act implications and potential audit risks?

December 3rd, 2024

I filed my taxes with TurboTax and requested they take my federal payment out of my checking account on 2/12/21. The payment was never taken out, and I want to ensure I filed it correctly. I contacted my bank and tried TurboTax, but to no avail. I was afraid to try to file again as I may duplicate it. What should I do?

April 20th, 2024

I have received a 1099-R for disability and it is coded as 3 disability distribution. Box 2 lists 0 for the taxable amount. How do I report this correctly that none of the income is taxable?

September 26th, 2024

My husband is 76 years old and was told he doesn't have to pay income tax due to his age. We live in Florida, have no dependents, and own a house and annuities. I have multiple sclerosis and have significant medical expenses like creams and diapers. Can we file our taxes separately, and are these expenses deductible?

November 19th, 2023