I am planning to sell a small strip of land that I inherited 30 years ago. The land was valued at $750 per acre and is selling for $2800 per acre. I am selling 19 acres. Do I pay both capital gains tax and income tax on the sale?

June 8th, 2023

My husband and I sold a condo in Glendale, CA, which he received from his mother's living trust in 2009. We sold it for $343,000. Where should we invest the money to avoid heavy taxes, particularly capital gains tax?

June 16th, 2023

I am signing up for Social Security benefits at age 62.5 and will continue to work per diem as a caregiver. If I need to use money from a rollover money market account that hasn't been taxed, is that included in the amount I can earn in 2018? Also, is the amount I can earn based on actual wages or after 401K deductions? And is that before taxes or actual take-home pay?

April 8th, 2023

A married couple, where one is a US citizen and the other is a Canadian US resident alien, purchases a house as their primary residence. Are there any tax implications beyond the normal tax rules of selling your primary residence that will apply? If the property was a rental property, would there be any additional tax due to the Canadian spouse's US status?

April 29th, 2024

If a taxpayer set up an individual HSA in November 2017, are they allowed to fully fund it with $3,400? If they had an Unqualified plan from January to October and then switched to a Qualified plan in November, does that affect the maximum contribution amount for the 2017 tax year?

July 21st, 2024