If an LLC sells a home that was used for short-term rentals and the profits are split between two parties, is there a capital gain tax to prepare for? Additionally, if one LLC sells the home and the other LLC is paid out (not from escrow), would the monies be taxed the same?

April 10th, 2023

I filed married last year and now we are separated. We have 2 children under 5. Who can claim the children? Can her parents claim the children if they own the house that she lives in?

July 16th, 2023

I inherited a house with my brother, bought his half for $80,000, transferred it to my son's name due to an IRS debt, and later sold it back to my brother's daughter. My son received the 1099-S for the sale but didn't get any money from the house; I did. The IRS also had a lien on the house, so I only received about half of the selling price. How should this be reported for tax purposes, and what is the taxable amount?

July 21st, 2023

Can I deduct all my medical expenses paid out of pocket even if I received private donations and church help towards the bill, and if the donations were intended for medical expenses but not paid directly to the hospital?

February 12th, 2024

If my mom had made estimated tax payments throughout the year before she passed away, would she receive something notifying her of her payments throughout the year, or would we need to look at her bank statements?

March 27th, 2024