An EMT works 24-hour shifts and is required to eat his meals on the employer's premises, for which he spends $25 a day. Station dues cover meals, incidentals, and living expenses while on shift. Should the per diem of $51 be deducted, or should the actual costs of food be deducted?

July 8th, 2024

I noticed that my prior tax preparer left out some asset entries on my 2012/2013/2014 tax returns. These assets were fully depreciated in 2011. Do I need to enter these back in for 2015 taxes, or were they fully depreciated in 2011? Additionally, my prior Tax Preparer did not depreciate my home office from 2005 to 2011, and I made errors in depreciation entries for 2012 and 2013. How should I correct these issues, and can I catch up on the missing depreciation for the years 2005 to 2011?

December 4th, 2024

I am 71.8 years old and withdrew my Thrift Savings Plan money in 2015, paying 20% tax on it. I have income from a federal pension, state pension, and Social Security, which is also taxed. I owe $5328 more in income tax. Is there anything I can do to reduce my tax debt, such as contributing to an IRA, given that I am married filing separately?

October 13th, 2023

May I have the Idaho tax for 2014 from the tax table for $56,167 married filing separately?

September 9th, 2023

Can I take an expense deduction for the fees that I pay to Fidelity to manage my 401k Rollover Plan, if I direct them to take the fees directly out of my 401k account?

November 8th, 2023