asked
I just completed my 2012 federal tax filing. I am retired, 67 years old, and filed Married Filing Joint. I received social security and took IRA distributions of approximately $75K with federal tax withholding of approximately $13K. My 1040 says I am due a federal tax refund of approximately $12K. Does that sound right to you?
July 4th, 2023
I live in a hurricane-affected area and lost various personal items, including furniture, basement contents, garage items, and landscaping due to flooding. I received $10,000 from FEMA. What can I claim for my tax return, and how should I calculate the loss for items like my old couch that I purchased for $800 but was worth $200 at the time of loss?
March 7th, 2024
If I am a NY resident but I work out of country for more than 183 days and earn my income outside of NY State, am I subject to NY State Income Tax?
December 15th, 2023
I am the only shareholder and employee of my S Corp and have loaned it over $25,000 in personal funds over the last four years. The company is bankrupt and cannot repay me, and it will be dissolved this year. Is it possible to write off these loans on my personal taxes or can the corporation reflect them as losses on my K1?
September 4th, 2023
Do Catholic priests have to include the Fair Market Value (FMV) of their provided living quarters in their Social Security tax calculations, and if so, how do they determine this value if the church does not provide it?
March 13th, 2024
As a self-employed artist collecting Social Security, can I report my art sales as 'other income' on line 21 of form 1040 to avoid paying self-employment tax?
December 12th, 2024