I’m single, 67 years old, and disabled. I believe my son attempted to claim me as a dependent for stimulus purposes. He received his stimulus, but I haven’t received mine. Am I out of luck, and how can I find out if he claimed me as a dependent?

September 11th, 2023

The Internal Revenue Code was codified for the second time in what year?

May 22nd, 2023

If I sell a piece of property for $5,000,000 that has been completely depreciated and my usual tax bill is about $30,000, what would my capital gains tax be if I do not go into a 1031 exchange? What is the percentage also? In addition to the 15% tax, is there an increase due to alternate additional taxes?

November 11th, 2024

My husband and I have under contract a piece of rental property. We purchased the house and lived in it from January of 1995 until May 1, 2004. We rented/leased the property on May 1, 2004, purchased a new home, and are in the process of selling the rental home. We are to close in early December. We claimed depreciation for tax years 2004 and 2005. Is there any way we can avoid the capital gain for tax year 2006?

June 5th, 2023

Is my lifetime gift threshold of 1 million dollars per individual or a total that I could give several different people, and what is my tax liability when I gift more than 1 million dollars?

August 14th, 2024