A taxpayer has several rental properties, some listed as installment sales, some as straight rentals, and others as 'Rent to Own'. How should the 'Rent to Own' properties be treated for tax purposes: as rentals or as installment sales? Are there specific terms in the agreements that indicate the appropriate classification?

August 23rd, 2024

Can you file a joint 1040 if both spouses live apart from each other all year (are separated but still married)?

August 19th, 2023

If someone were to gift my partner and me over the amount of $15,000 and it should be split between us, but my partner puts it into a non-joint account, will we have to pay taxes on that money even though it was meant for both of us?

November 13th, 2024

Reprint the article from September 2, 1990, regarding generations and retirement strategies. Can you provide more details or a reference link to the article?

October 28th, 2023

What is the additional standard deduction for a 70-year-old individual in 2019, and how does it vary based on filing status?

September 28th, 2024