Sebastian paid $3,500 in interest to Merrill Lynch for borrowing to purchase taxable investments. His investment income for the year is $3,000, consisting of interest income and short-term capital gains. His investment expenses total $600, consisting of advisory fees. What is Sebastian’s investment interest deduction on Schedule A?

May 23rd, 2024

Can I claim my girlfriend and my baby as dependents on my taxes if they are covered under someone else's health insurance, and can I claim myself if I am also on my mom's health insurance?

January 10th, 2023

I recently joined a job in the US as a student on F1 OPT. My family (dependent wife and 2 kids) are outside the US, and my wife is not working. What should my marital status be on the W4 form: Head of household, Married filing jointly, Single, or Married filing separately?

February 2nd, 2024

I received an out-of-state job offer in Secaucus, NJ while living in Nashville, TN. The employer has an SDCP plan, and I want to know how that plan helps me save taxes, especially since NJ has a significant state income tax component. Additionally, I am looking for services to review job offers and provide guidance on the right levers to pull for tax planning purposes.

July 14th, 2024

I need to check the status of my 2019 tax bill. I have already filed my taxes and made payments, but I was unsuccessful in accessing my account online. How can I view my tax account status and make any necessary payments?

January 7th, 2024