I own a travel company in Costa Rica and need to accept credit cards from my customers. I can only do this through PayPal, which requires transferring funds to a US bank account before wiring them to my Costa Rican business account. Is this legal, and how will the money passing through my personal US bank account be treated tax-wise? How should it be reported to the IRS, and will this activity raise red flags with my personal income tax filings? If this is prohibitively expensive, do you have recommendations for a different structure to accept credit cards?

November 30th, 2023

I am moving from Florida to Pennsylvania, specifically around Philadelphia. What are the tax amounts and is there a significant difference in taxes between the two locations?

October 16th, 2023

I own 3 houses. My primary home has mortgages over $1.1M, which is the limit on deductible interest. I purchased the other 2 houses originally as primary and secondary homes while living overseas, and my divorced parents lived in each of the houses. When I returned, I purchased my current house and used up all the mortgage deduction. Are there any deductions I could use (such as investment interest) on these other 2 homes?

February 22nd, 2023

How much money can I gift my two children and their spouses each year without that money being taxed?

September 11th, 2023

My spouse and I have just sold a home and split the proceeds. He is using his share to pay off a loan from his mother but still has a lot of debt in his name that he cannot pay off. He is financially struggling and intends to file for bankruptcy in the future. I want to get my share out of my name. If I give it to my mother to put into an account in her name, how does it affect her and me taxwise?

February 26th, 2023