I am a UK citizen living in the UK with a Fidelity IRA from my time working in the US. I take distributions from the IRA which are not taxed in the US but are taxed in the UK. The UK pension tax rules changed on April 6th, allowing 25% of the drawdown to be tax-free. Does this change apply to distributions from my IRA?

November 25th, 2023

I need to file my 2014 and 2016 federal and state tax returns because two credit card companies reported a debt cancellation. Is the amount reported as debt cancellation considered to be income on my part, and where can I obtain the tax return forms for those years?

November 10th, 2024

We have moved our mother into a retirement community. She owns her home outright and wants to sell it as is. We want the property sold with the least tax consequences. Mom and Dad had always wanted to take the money realized from the sale of the home and gift the four children equally. How can we achieve this with minimal tax implications?

August 12th, 2023

In layman's terms, what does 'Industrially Disabled' mean, and why did my December 2017 wages not show on the calculation for my state SDI claim in California?

May 12th, 2023

Can I receive my K-1 income as a DBA (using my individual SSN) and employ my husband on payroll (with an EIN, withholdings, etc.) through this DBA, to compensate him for work and errands related to my S Corp, without transferring my ownership interest?

March 7th, 2024