If my SS taxable benefit is $17,392 and my taxable income from self-employment is $13,374, what is the percentage/liability my SS is taxed at and my income liability taxed at or estimated taxes owed total?

August 16th, 2024

I lived in NYC from January-April and my wife worked in NYC the entire year. Her W2 shows NYC wages, which is roughly a third of her total wages. When we file the NY part-year return, do I need to allocate my NJ and NY wages to NYC while we were living in NYC? For example, if I made 100K, do I need to allocate about 33K to NYC since I earned that money while I was a NYC resident?

January 4th, 2023

My son works as a waiter in a burger restaurant where he reports tips on his W-2 but is required to 'tip out' the bartenders and bussers, usually about 5% of his tips. Is he supposed to pay tax on the total amount, and can he list the 'tipped out' amount as a business expense? If so, what records are required?

August 24th, 2024

Buying a house with my fiancé and we are not yet married. The loan is in my name only because I have a higher credit score. My fiancé wants to contribute to the down payment, and the finance company requires a Gift Letter stating she is giving me the money for the house. Does her contribution count as income for me that is subject to income tax?

February 8th, 2024

My daughter paid the mortgage interest on my property, but she is not on the title nor on the loan. I received the 1098 form in my name. How can my daughter claim the credit for the mortgage interest paid?

March 4th, 2024