My wife and I own a C-corp that is planning to acquire an S-corp and we want to merge the acquired S-corp so that we don't own two C-corps; how can that be accomplished?

June 11th, 2024

Pursuant to my divorce, my ex-spouse will be awarded some RSU and NQ options. I understand the IRS ruling 2004-60, where the non-employee spouse will be credited for the wages and taxes from the vesting/exercise and I will be credited the FICA and Medicare. My employer will not agree to separate my ex-spouse's transactions, track, and send my ex a 1099-MISC. How do I notify IRS and my ex-spouse that part of my wages and withholding are credited to them? Can I submit a 1099-MISC or is it some other document? During the separation, the IRS has a form to split the withholding to file separately. I don't know how it works once the divorce is final.

July 23rd, 2024

I sold my CA home in 2018 and had $340,000 in federal and state capital gains. I also bought my CA condo in 2018. Do I need to pay the $340,000 in taxes in the year 2019?

December 7th, 2023

I work for Grubhub, a food delivery service. At what point can I deduct mileage on my deliveries for tax purposes, such as when I am at home but on duty and receive a delivery call? Can I deduct the mileage to the restaurant and back home after completing the delivery?

May 16th, 2024

We received a 1099-K with a large discrepancy between the reported amount and our actual gross sales transactions. The payment gateway provider explained that they used the credit card pre-authorization approval amounts, not the actual captured transaction amounts, to calculate the 1099-K. This practice is causing concern over potential IRS audits. Can the payment service provider legally issue a 1099-K based on pre-authorization amounts instead of actual settled transactions, and what are the implications if this overstated amount leads to an audit?

July 23rd, 2023