asked
I live in Alaska and filed for my permanent residency fund, but it was garnished by the IRS because I owe back taxes. I'm the only one working due to my husband's medical issues. Should I be concerned about my paychecks getting garnished as well, and is there anything I can do to prevent this?
March 16th, 2024
I am ready to sell a house. After all fees, I will end up with about $6000. Will I pay taxes on this as capital gains? If there is a loss, could that be deducted? Can improvements made to the house for sale be deducted, and is there a time frame for these improvements?
July 4th, 2024
I have someone who’s only income was from gambling ($180,000), but in the end they had gambling losses after itemizing on schedule A. They have no other income, but did not have any health insurance. My tax software program is saying that the one over $3,000 in taxes for not having coverage based on AGI. They made no money during this year and actually lost $45k gambling. Am I allowed to put in a hardship exemption? What should I do?
April 19th, 2023
Can a taxpayer withdraw non-deductible contributions and earnings from an IRA before the income tax deadline without paying a penalty and income tax, or only income tax on the earnings? Do they have to pay a penalty on those earnings if they are not yet 59 1/2 years old?
March 28th, 2024
I'm driving for UBER and bought a car used 100% for this business. Can I deduct all mileages, investments, repairs, gas, etc., from my income? I know there are two different methods but I'm not sure about it. I also do not know if I have to pay tax during the year or only with my tax return next year.
August 21st, 2024
What is a Federal ID number and is it required to settle an estate?
June 4th, 2023