Is there a tax implication when receiving a $60k settlement from a builder for poor work done on our primary home, which will be used to pay a new contractor for the necessary repairs?

February 26th, 2023

I had imported a large inventory to sell, but due to market changes, I had to donate it all to a church. What tax treatment will give me the maximum tax benefits using my personal account, my LLC, or my S Corp? Do I need to provide more information?

September 8th, 2023

How can I shelter my personal income from a significant tax liability now that I am making more money, given that I am 60 years old, married with adult children, own a home, and also own a business with substantial income?

February 1st, 2024

My neighbor needs a copy of her SSA-1099 for 2021. What else would we need to know to get this for her?

June 26th, 2024

I have a tax-related question regarding rental property deductions. I installed new flooring in the living area and a bedroom of my rental property last year, with separate invoices totaling $3,600 for materials. The labor was done by myself. Does this qualify for the de minimis safe harbor repair deduction, and how should I report it on my tax return?

February 1st, 2023