I performed stand-up comedy out-of-state and received a 1099-MISC form identifying me as a non-employee. I believe this counts as self-employment. Do I need to file a state return for the state I performed in, and how should I report this income?
June 15th, 2024
I have a payment plan set up with the IRS. Can I have the amount withheld by my employer with my regular withholdings, and if I adjust my W-4 to reflect the amount of the payment on line 6, would this be applied to my balance?
November 28th, 2024
I'm 58 years old and left my last job 40 days ago, rolling my 401k into a Traditional IRA. Can I now roll a part of that into a Roth IRA, pay the taxes in 2011 & 2012, and then withdraw from the Roth before I'm 59 1/2 without the 10 percent penalty?
May 19th, 2023
I had a $12,000 theft of a trailer stolen with police reports and insurance claims. Insurance only covered $3000 due to a special limit on trailers in the states of OK and TX. I have to replace the trailer at a cost of $9000. I will show a loss of $9000 on my taxes. Do I add the cost of the new trailer to that amount to show an $18,000 loss? Should I replace the trailer now or hold off until next tax year? If I'm self-employed with a tax ID, how do I file this to not raise flags? Should I let the business buy the replacement trailer to claim it as a depreciable asset?
September 29th, 2023
I haven't filed my tax returns for the past six years, mostly due to rental income. How should I proceed with filing these returns?
March 18th, 2024
IRS has rejected our TurboTax efile citing no W2s. My husband and I are both retired and have had no taxable income from jobs since January 2016. How do we fix this?
October 29th, 2023