Crops were damaged during the construction of new telephone service. Also, should we send a 1099 to a person who prepares lunch for special meetings for us? The payment includes amounts for food and for preparation and delivery. It is not a 'business' as we are the only ones she does this for.

July 3rd, 2023

How is the passive gain allocated among the passive loss carryovers after being applied to the passive loss carryover of the sold asset that gave rise to the current passive gain? Is it allocated based on the ratio of remaining passive losses of each property to the total of the passive loss carryovers, or based on respective FMVs?

January 13th, 2024

If I traded on IG markets (CFDs) to see if I could get additional income prior to retiring and made a loss, can I claim that on this year's tax return? I made a loss and most likely will not continue as a Sole Trader.

July 1st, 2023

I own a small corporation and have my office in my house, which I am currently renting. Can I sublet to the corporation for the office space (2 rooms of the house) of the corporation?

August 1st, 2023

My wife and I married in August of 2008. She was divorced in 2006 and her ex-husband failed to pay his taxes that year. Now the IRS is coming after both of them. The IRS took her tax return last year even after she filed an "innocent spouse form". Now, I'm afraid the IRS will take our tax return this year. What can I do?

January 3rd, 2023