I have a 45,000 credit from Form 8846 for the current year and no tax due. I have deducted that amount from the payroll taxes on the tax return. It should be shown on the books as a reduction of P/R taxes. What is the debit? Is it a deferred tax asset?
July 17th, 2023
I have received a 1099-B form with information about my stock sales. Where in my tax return do I put information about the stock purchases? Do I have to list every stock sale I did or just the consolidated?
December 28th, 2023
How can I obtain a private LLC's tax ID number or EIN to issue a 1099, especially when the manufacturer/supplier is insubordinate and I can't get the W-9? Additionally, as an individual, can I send the 1099 Misc for all monies paid last year, pay the $110 fine, send the W-9 and the 1099 with the backup withholding notice, and not have to change my individual return from last year?
November 24th, 2024
My brother sold me a house for a nominal $10 7 years ago. He purchased it for $103K 2 years before. I took out a HELOC which is at $75K and have the house up for sale at $125,000 with an expected sale soon. What is going to be my capital gains tax liability, and how do I prepay the anticipated tax liability to the IRS?
January 5th, 2024
I have congestive heart disease and was put on short-term disability on 7/14/2020. I have filed for SS Retirement and was approved to start in November 2020. Should I have filed for SS Disability instead?
September 18th, 2023
I am a war veteran who submitted my stimulus check information over four months ago, including my direct deposit bank routing and account information, but I have not received any stimulus checks yet. I have tried calling to track my checks but have been unsuccessful. What should I do to resolve this issue?
August 28th, 2023