I reserved an electric car that is currently in route from Europe. Since a new bill was signed on August 16, which changes the tax incentive for electric cars, I'm concerned I will not be eligible for the $7500 federal tax incentive. Is it still possible to receive the incentive under the current rules if I take delivery and title the car this year?

February 16th, 2023

What are the tax laws regarding receiving money from abroad as a non-immigrant alien living in the US, specifically for a real estate investment? Is there a limit to how much money I can receive from my family in a year before I get charged a tax on them?

October 5th, 2024

I am to receive $23K from the sale of a property in Puerto Rico, which was sold for $150K. My father is still alive and receives Social Security and Pension payments, so he files tax returns in the U.S. What is the tax reporting requirement for me regarding this $23K, and is there an exclusion amount?

May 31st, 2024

I need to pay commission to a 1099 contractor as part of my business operations. The payment includes a fixed amount per month plus 10% of the sales revenue. How should I report this commission payment on my business tax return, and under which account head should it be reported?

May 10th, 2024

If you sell a book of clients in your S Corp and you actively participate, are you subject to net investment tax in addition to capital gain?

October 31st, 2023