I owe approximately $4,000 in taxes this year and was planning to pay it with a divorce settlement that I was supposed to receive in January 2012. However, my ex-husband now says he can't pay me until June 2012. How can I pay this money on my taxes?
August 13th, 2023
I have a traditional IRA with a significant loss and would like to convert it to a Roth IRA. Would I have to pay taxes on the transfer to a Roth IRA?
November 22nd, 2024
As a rental property owner, can I claim my labor in doing repairs after my rental house was trashed by tenants? I spent over 160 hours working for more than two months to replace doors, windows, baseboards, resurface kitchen cabinets, floor tiles, paint, etc. We have over $5,000 in material receipts. Can I include fair market labor?
August 5th, 2023
My husband inherited a fund from his mother and he passed away in Nov 2011, and now the fund reverted to me which I sold to pay funeral expenses. I do not think this is income but want to know if I am right and if I have to pay some inheritance tax to my state of Pennsylvania? I have not made enough to pay state taxes in years and now at 65 do I owe because of this - the fund was $10,861?
September 10th, 2023
Can I take money out of my SIMPLE IRA and put it back into the same SIMPLE IRA within 60 days, and have it count as a rollover (NON-taxable event)? I have had the SIMPLE IRA for 20 years.
May 12th, 2024
I am 100% disabled for service-connected illness and receive Social Security, Navy disability, Westinghouse pension, and a disability check. My accountant said it's not worth filing because we only have one deduction, the house. I'm concerned about whether my Social Security is taxable and if I need to file a tax return. What should I do?
March 11th, 2024