My husband and I plan to sell our home and buy into a community where you pay a founders fee for your apartment. We will be making a profit of about $40,000 on our home, which we have lived in for about one and a half years. Will we have to pay taxes on the profit when we sell our house, and if so, do we file this at the time of the sale or when we file our income taxes at the end of the year?

September 23rd, 2023

My father is 88 years old with dementia. He paid $95,000.00 in 24-hour home health care for 2018. What is the maximum he can use for deduction on his taxes?

December 3rd, 2024

I dissolved my LLC and established an S-Corp. Do I need to start a new QuickBooks account for my bookkeeping and taxes (payroll, etc.) since I technically have a new company?

November 23rd, 2024

What should I do if I haven't received my tax refund and have already tried everything?

May 26th, 2024

My wife sold her mother's house in 2013, where her mother retained a life estate. Her mother is still alive, and the proceeds were directed to my wife. How will the basis be calculated for determining capital gains?

January 19th, 2023