asked
I received a lump sum amount of $100,000.00 from my mother's trust account, which was to be used solely for our home mortgage. How should this be reported on our tax return?
June 9th, 2024
Can somebody with a 6-month resident permit be considered as a dependent in tax return filing, and if so, under what conditions?
April 25th, 2024
As a Mary Kay independent consultant, how much of my business expenses can I write off, and does this mean the amount I paid is returned to me?
May 5th, 2024
I just discovered that my tax form for 2018 was not electronically filed as I had requested. What should I do?
March 8th, 2023
As an accountant for a public company, we have salespeople who give large gifts (up to $2,500) to major customers. What are the tax consequences for both the company and the recipient of these gifts, and how should the reporting be handled?
March 10th, 2023
I have many clients with over $10 million equity in commercial real estate, generating more than $500,000 annual rental passive income. I want to set up a retirement plan (like a Defined Benefit Plan) after converting some of the passive income into earned income by issuing W-2s or Form 1099. What are the implications of IRS tax laws on this matter? Clients usually have not paid any compensation for management services in prior years and typically withdrew funds from real estate LLCs. What will be the proper level of management services as owners?
April 17th, 2024