Does the pass-through income from an S Corp K-1, in which an 18-year-old taxpayer who is claimed as a dependent materially participates, increase the amount of the Standard Deduction he can claim for the 2023 tax year?

December 1st, 2024

What are the self-employment tax rates in Florida, and how is the tax calculated?

May 30th, 2023

I bought a house and added my daughter's name to the deed. The mortgage is in my name, and she is not contributing financially as originally agreed. I need to sell the house due to financial constraints. I purchased the house in May 2023 and it has been my primary residence since then. I am concerned about capital gains tax and the possibility of a partition sale without the consent of the other owner. How does this work, and what are the steps to get two separate deeds?

December 29th, 2024

From an inheritance I received from my father's estate, I gifted my son $126,000. What is my responsibility with Form 709?

January 24th, 2024

I’m buying a business and planning on mezzanine fundraising. If I raise 5.6 million for the 3.1 million acquisition, can I put the extra funds raised into my holding company and use it for other ventures?

January 7th, 2024