My husband died in December 2014. I was told to file jointly for 2014 and 2015. Now, as I'm filling out my taxes, I want to confirm the correct filing status.

April 13th, 2024

I'm curious about my options for filing taxes as married but separate. I was on strike from my company from February to July 2015 and took distributions from my IRA account. I also had loans from my employer's 401k account that defaulted due to an accelerated amortization schedule I couldn't pay. I'm aware of the tax on early distributions from retirement accounts, which are considered income. Should I file married but separate? My wife's tax obligation is smaller than mine, but if we file jointly, it would increase. Looking for advice.

August 17th, 2024

For a sole proprietor, what are the top ways to reduce the amount of taxes I have to pay each year?

November 13th, 2024

I took advantage of the IRA Saver's Credit in 2013 and 2014 when my income was low enough to allow for the maximum 50% of IRA contributions. Last year, at age 60, I began drawing early distributions. It seems I no longer qualify for the credit because the amounts I drew out exceeded my 2015 contributions. Is this correct, and does the credit primarily benefit low-income contributors who haven't started withdrawing?

June 28th, 2024

As a US resident and taxpayer, I have a Swiss life insurance policy with an initial lump sum payment, a predefined duration, and yearly interest credited based on a contractually defined rate, plus an additional sum depending on the insurance company's results. At the end of the predefined period, the initial payment plus interest and the extra sum will be paid back. Do I need to report the 'virtually credited' sums on my tax return every year, or can I wait until the final payment and report the difference between the original payment and the final one in the payment year?

February 6th, 2023