When using depreciation for a car used in business, such as for an Uber driver, should we take actual expenses or standard mileage? Can we claim depreciation if we choose the standard mileage rate?

September 2nd, 2023

As a US citizen living in DC, I own a rental property in DC that I am selling. I plan to change my primary address to another country before the settlement. Can I avoid DC capital gains tax on the sale of my rental property by doing this, and how do I establish my new primary residence?

March 30th, 2023

I have been contacted by phone from 2 different numbers claiming I defrauded the IRS of $6,795.00 and threatening jail time if I don't pay by the end of the day. If I fight this, they claim I owe $200,000.00. I am on social security since 1999. Is this a scam or what? I have the phone numbers.

February 15th, 2023

My two brothers and I were bought out of real estate that was in a Trust, our total buyout was for $150,000.00 with an individual earning of 50k each. What kind of tax does this fall under? Is this just income or does it fall under short/long-term capital gains? We had the property appraised and it appraised at 545k, 1/3 of that is $181k. We took 150k for the buyout.

September 24th, 2024

I give my grandchildren $12K a year. Can I deduct this from my taxes?

June 2nd, 2024