I run an e-commerce business from home and am trying to reconcile my inventory purchases with my supplier. I have about 505K in charges on my credit card from my supplier, but their annual summary shows about 470K in expenses. When I return an item, my supplier issues me an electronic gift certificate that zeros out the original transaction and lowers my expense total on the new transaction. According to my records, I refunded my customers about 13K, but the discrepancy between my credit card charges and the supplier's summary is 35K. Shouldn't these numbers be closer? Every time I receive a gift certificate, it almost always means I have a customer refund to process. Am I missing something?

December 17th, 2024

When I divorced from my husband, he deeded our home to me, but the mortgage remained in both our names. I was later forced to give the home to an investor due to a civil lawsuit. Can I claim a loss since I no longer have that asset? Additionally, am I obligated to provide the mortgage interest statement to the investor, and can he claim the mortgage interest paid if his name is not on the loan? Are the attorney fees I paid tax deductible?

November 18th, 2024

If you have medical expenses above 7.5% of your Adjusted Gross Income (AGI) that you claim on Schedule A, can you take the below 7.5% of AGI medical expenses for the Oregon special medical subtraction?

January 23rd, 2023

My husband and I purchased a travel trailer for his work as a lineman, which involves staying out of town for 26-27 days a month and moving locations every 6-8 months. The jobs are always more than 100 miles away from our home. We are trying to determine if the purchase price of the travel trailer is tax deductible and, if so, how to claim this deduction on our taxes.

November 28th, 2023

What is the default number of stocks registered for a Delaware LLC, and what kind of document should I create to prove ownership if I want to issue a share certificate?

June 1st, 2023