asked
If a 72-year-old widow who collects social security on her late husband's account gets married to a 75-year-old widower, will she still be able to collect social security on her late husband's account?
September 28th, 2023
Can I deduct 'ad infinitum' malpractice tail coverage paid in 2007 on my 2006 taxes given that it's a business expense incurred from a business that ended in 2006?
September 8th, 2023
I drive 100 miles to stay with my handicap mom every two weeks. Is the mileage deductible, and where does the mileage go?
January 16th, 2024
Can I claim a 19-year-old, who was released from prison last year and turned 20 in November, as a dependent if he lived with me since March and earned $3500? He cannot support himself and has a history of foster care. He is my wife's grandson.
July 26th, 2023
I sold a C-corp business in 2008 with a partial down payment and a note. After receiving some payments on the note, the buyer defaulted and I filed a lawsuit. They settled for a lesser amount and resumed payments, but defaulted again. I obtained a judgment against them and they abandoned the business. The office landlord asked me to dispose of the contents, which I did by selling some and donating the rest to tax-exempt charitable organizations. My questions are: 1) Can I claim charitable contributions deductions for the donated property? 2) Is the year in which I obtained the judgment the year of acquisition of the donated items? 3) Is my cost or adjusted basis the amount of the judgment less the revenues received for the items that were sold? 4) Are the revenues for the items that were sold considered capital gains? 5) Can I claim a loss for the business? 6) How would that loss be calculated?
August 3rd, 2023
I have an important sales tax question. Someone started selling online on eBay and did not know they had to apply to charge sales tax in their own state. They then started charging tax but haven't applied for sales tax yet. What should they do and prepare for BEFORE they apply to charge tax in their home state? The state will ask from when this business was open and where is all the sales tax? What do they answer and is there anything they can know/do before they reach out to the state to avoid penalties and charges that may come up? Can they get a sales tax license (and by extension a resale certificate) to say retroactively from the date they actually started charging?
January 1st, 2023