Does a taxpayer with a Social Security Card that reads 'NOT VALID FOR EMPLOYMENT' and has two dependents qualify for the Earned Income Credit (EIC)?

November 18th, 2024

I am working on a trust return with depreciation on a residential rental. The program wants to pass this through to the beneficiaries, which I think is right, but did not do this the prior year. This is the final year, and I am not sure how to present it. Should the depreciation be part of the final year line rather than separately stated on line 9 of the K/K-1?

January 7th, 2024

I own a business. After a terrible storm on January 20th, my office flooded and I lost everything, including all electronics, paperwork, records, and files. I have a state audit scheduled for tomorrow but have no records to show. What should I do?

June 6th, 2023

I have $125,000 in a rollover account from a previous employer, invested with Vanguard. I am 58 years old and recently awarded Social Security disability. Since being determined disabled, will I be able to use any of the $125,000 without the 10% penalty?

September 14th, 2024

I have a health insurance policy for which I pay premiums. Are claims paid on this insurance taxable?

July 21st, 2023