I lost $16K to a contractor who destroyed my property and left me with a situation that could damage the foundation of a detached garage. I have taken him to court, but the case won't be heard until January 3, 2021. Once I win the case, can I claim the $16K as a loss on my next year's tax returns? Additionally, I own three very small camping lots at a campground where I pay a yearly fee for upkeep. Are these fees deductible?

March 31st, 2024

I was just laid off and will receive a severance package on the 13th. What are the maximum allowances or deductions I can claim on my W-4 to minimize the tax withheld?

June 23rd, 2024

I received a notice stating that the money I submitted doesn't have enough funds, and I need to pay $20,931.95. I don't have enough money to pay it all at once. Can I pay half now and the rest in four monthly installments plus interest? I've tried calling three times due to high call volumes, but they haven't picked up. What should I do?

December 4th, 2024

Can you explain the meaning of minus signs in front of income totals on our tax form? We own a company together and are in the middle of a divorce, and I have never paid attention to our taxes until now.

January 5th, 2024

David Ross files as head of household and has an income from rental units of $39,000. How much of his social security benefits may be subject to tax?

June 11th, 2024