I have a business registered in NJ. The 1099 MISC is from a business registered in NY. While filing taxes, do I need to include this as income in NJ or NY or both tax returns? How do I make sure that I am not double-taxed on this by two states?

April 5th, 2024

When you inherit an IRA, what happens tax-wise if you need to cash it in? Would you have to pay tax on the money?

September 5th, 2023

I need help from a Canadian Tax Expert. I have questions on an audit I am going through with my 2017 year small business taxes. The auditor is trying to deny my company charitable donations. I have done this every year without problems. I was under the impression that I could claim up to 75% of gross in donations, and carry unclaimed balances forward for up to 5 years. She says that it must go through personal not business. I asked why the forms for the claim were in the business section of the T2125 forms, and she couldn't give me an answer. If the forms are there I would think that is what you use to claim. Am I wrong?

December 30th, 2023

I have inherited a property and have not yet transferred the title to my name. How can I avoid old Kansas tax debts from being attached to the property, especially since the tax debt is related to a dissolved C corporation and I have not been contacted about this matter for approximately 15 years?

August 20th, 2023

If a guarantor assumes a recourse loan with a non-recourse guarantee, and the lender closes the borrower's loans, would the IRS consider the borrower's loans forgiven, and could the lender send the borrower a 1099-C while still collecting from the guarantor?

June 24th, 2024