Can you shed light on the "Investment method of Accounting" being applied to a life insurance policy on the life of a key officer in a HOA, and what would be the likely adjusting journal entries that should have been made when the officer retired? Also, weigh in on whether this accounting treatment is appropriate and address concerns about transparency and governance within the HOA.

March 31st, 2024

I am working on a Form 706, Estate Tax Return for a decedent who owned a second home in Maryland. The Maryland home is going through the Probate process, and the Maryland Probate attorney indicated that Maryland uses the value from the Town's Assessor rather than appraisals. Is it acceptable to use this assessed value on a Form 706 and the RI-706, or should I obtain an appraisal to determine the fair market value?

March 21st, 2024

I need a copy of my "Award Letter from Social Security". Have you previously received an Award Letter from them? Are you looking for a physical copy of the letter or would a digital copy suffice? Is there anything else the Accountant should know before I connect you?

August 19th, 2023

Where is my refund? The status has been showing as 'in process' since July, and I cannot access my account online.

July 19th, 2024

I have a beach house that I am selling and I would like to use some of the proceeds from that sale to buy another house cash. I was told that I could not do a 1031 exchange because it will not be an investment property. My question is will I get taxed for all of the proceeds or just the amount that I do not use to buy another house?

March 18th, 2024