Michael L. asked
If an asset is bargain purchased used and rehabilitated and restored, is the total cost subject to section 179?
June 4th, 2023
Whitney B. answered
Yes, the total cost to place the asset in service, including the purchase price and rehabilitation/o...
June 4th, 2023
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As a U.S. resident alien residing in the Netherlands, who was supported by her deceased European husband's income and has never had wages, but pays taxes on income from savings and property, do I need to file a tax return in the U.S. if my earnings are below the $9,000 mark?
October 11th, 2024
I want to petition tax court. My partnership was audited, and the results carried over to my personal return. Do I need to send one petition for the partnership and a separate petition for my personal return?
November 23rd, 2024
If a U.S. citizen sells an overseas private property (with no foreign financial accounts involved) for $120,000 and plans to transfer the entire proceeds to the U.S., what is the legal way to remit the money without being questioned by authorities like the IRS, DHS, or Treasury? Should any authorities be notified in advance of such remittance?
March 3rd, 2024
Does an independent worker in Israel have to pay 18% Social Security taxes if he's already paying Israel Bituach Leumi taxes? Are there any exemptions, maximum earnings thresholds, or age limitations on paying U.S. Social Security tax, and does one's spouse's earnings affect this obligation?
April 11th, 2023
I was audited and the auditor stated I could take a section 179 deduction for financed software for my business and that I have to deduct 20 miles from my daily work miles even if I work remotely. I know both of these statements are wrong. Please provide the 179 regulation that states I can take a section 179 deduction for business software that is off the shelf and financed. Also, please provide how work mileage is actually calculated if I work from home and work in the field.
February 29th, 2024