I am the only shareholder and employee of my S Corp and have loaned it over $25,000 in personal funds over the last four years. The company is bankrupt and cannot repay me, and it will be dissolved this year. Is it possible to write off these loans on my personal taxes or can the corporation reflect them as losses on my K1?

September 4th, 2023

Do Catholic priests have to include the Fair Market Value (FMV) of their provided living quarters in their Social Security tax calculations, and if so, how do they determine this value if the church does not provide it?

March 13th, 2024

As a self-employed artist collecting Social Security, can I report my art sales as 'other income' on line 21 of form 1040 to avoid paying self-employment tax?

December 12th, 2024

I need tax records from 1962 for my husband and myself. How can I obtain these records?

March 29th, 2024

What if I don't file my tax return or extension today? I'm having a disagreement with my accountant.

April 8th, 2023