asked
I have an HSA through HealthEquity Corporate that was set up for medical expenses for my wife and I when I retired last June. My employer deposited $7,900 into this account last spring, as I was told that was the pre-tax max that could be deposited. As of Dec. 31, 2018, our balance after paying some medical expenses was $7,286.28. When working on my taxes through Turbo Tax, this notice came up: 'It looks like Timothy has an excess contribution of $7,900. This amount is being taxed an extra 6%. But, anything withdrawn between January 1 and April 15, 2019 avoids this additional tax.' Why am I getting this message from Turbo Tax, and how do I handle this situation?
July 23rd, 2024
How do I know if I owe the IRS taxes?
December 18th, 2024
I am a massage therapist and I purchased a washer and dryer that I use at home to wash my linens for my business. Can I use them as a tax deduction?
August 3rd, 2024
I don't know anything about taxes and need help understanding how much I should pay and how to do it. I received a fellowship from Stanford University, part of which was a living stipend. I don't have an SSN or ITIN and need step-by-step guidance on what to do, including how to find out how much I should pay for both federal and state taxes, and how to pay them.
June 29th, 2023
I don't understand how to file my state's ST-3 form online. I am currently stuck on the form and need help with the correct entries for total sales, deductions, and net taxable amount.
December 23rd, 2024
Do I have to take any Net Operating Loss (NOL) because if I take $0 of NOL, the Business Tax Credit automatically kicks in according to my Tax Program?
November 25th, 2023